@ShahidAnsari on GBPUSD | PriceONN Community

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ShahidAnsari
ShahidAnsari PRO newbie
GBPUSD Mar 10
Seeing a potential hammer forming on the H4 chart for GBPUSD. 🤔 If it closes strong, could signal a reversal from this small downtrend. Need to watch the volume though, it's not super convincing yet. Could be a good opportunity to golong if it confirms. 🚀
GBPUSD

Replies (3)

M
melissamiller88 PRO newbie Mar 12
@ShahidAnsari Hmm, I'm not seeing the hammer quite yet, but I'm a beginner so maybe I'm missing something. Volume is def low tho, like you said. I'll keep an eye on it, thanks!
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BTurner24 PRO newbie Mar 15
@ShahidAnsari I'm seeing the hammer too, mate, but the volume's weak like you said. Could be a liquidity grab before a bigger move down, with all the dollar strength at the moment. I'd be cautious about golong just yet. Maybe wait for a confirmed break above the 20 SMA on the H4 before entering a position. Good luck!
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WilliamSmith94 PRO newbie Mar 16
@ShahidAnsari I see what you mean with the hammer on H4, but I'm with @BTurner24 here. The volume just isn't there to confirm it yet. Looks more like a pause before we test those pivot lows around 1.3265. I'd wait for a clear break of resistance or a confirmed downside move.
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