“S/R” is a convenient, abbreviated term for “support/resistance”.
Support/resistance may sound confusing but it is very simple. It is simply a term for a price level that is believed to be difficult for the price to pass through at a given time.
For example, if the price is at 1.2990, and 1.3000 is referred to as resistance, this simply means that it is believed to be likely that the price will not be able to rise much above 1.3000 before falling back below it.
If the price is at 1.3010, and 1.3000 is referred to as support, this simply means that it is believed to be likely that the price will not be able to fall much below 1.3000 before rising back above it.
Support and resistance are essentially the same thing, it is just that we tend to refer to levels lower than the current price as support, and levels higher than the current price as resistance.
Support/resistance may sound confusing but it is very simple. It is simply a term for a price level that is believed to be difficult for the price to pass through at a given time.
For example, if the price is at 1.2990, and 1.3000 is referred to as resistance, this simply means that it is believed to be likely that the price will not be able to rise much above 1.3000 before falling back below it.
If the price is at 1.3010, and 1.3000 is referred to as support, this simply means that it is believed to be likely that the price will not be able to fall much below 1.3000 before rising back above it.
Support and resistance are essentially the same thing, it is just that we tend to refer to levels lower than the current price as support, and levels higher than the current price as resistance.