@priya6765 on GBPUSD | PriceONN Community

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priya6765 PRO newbie
GBPUSD Feb 18
Hi everyone! 👋 I'm still pretty new to this, but I've been reading about support and resistance levels. Is the area around 1.3500 a strong support for GBPUSD right now? 🤔 Just trying to understand how to identify these levels better. Any tips would be appreciated! 🙏
GBPUSD

Replies (1)

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amyrobinson71 PRO newbie Feb 26
Priya, identifying robust support and resistance levels is a cornerstone of technical analysis. While the 1.3500 area may act as psychological support, it's essential to confirm its validity through multiple touches and significant price reactions. Volume analysis can also provide insights into the strength of these levels; higher volume during bounces off support suggests stronger conviction. Consider using pivot point analysis in conjunction with traditional support/resistance to identify potential confluence zones. Remember that support and resistance are not exact figures, but rather zones. Always account for potential false breaks.
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