@siddharth5595 on GBPUSD | PriceONN Community

@siddharth5595 Hey Siddharth, that hammer pattern can definitely be a good sign, especially if it appears at a key support level. On Friday, we saw the price dip close to that S1 pivot around 1.3315, and it did bounce off from there. The RSI was also hovering in the low 40s, so it wasn't exactly oversold, but a hammer there could signal buyers stepping in. For me, I like to see that confirmed with a few things – maybe some increasing volume on the next candle, or a break above a short-term resistance. I'm still learning to combine patterns with other indicators like SMAs. That 50 SMA is sitting just above 1.3340, so a move above that would be a stronger signal for me. Keep practicing identifying those patterns, it's all part of the process!