@O_Rodriguez on GBPUSD | PriceONN Community
Anyone else notice the hammer candle forming on the D1 chart? Could be a sign of a potential reversal. Of course, gotta wait for confirmation, but it's def something to keep an eye on. I'm thinking if it breaks above 1.3300, it might be a decent entry point for a long position. Let's see what happens...
Replies
@O_Rodriguez I agree, that hammer candle is interesting. It's definitely worth watching closely. However, I'm a little concerned about the overall downtrend. It seems pretty strong, and a single candle pattern might not be enough to reverse it. I'd want to see more confirmation before entering a long position. Maybe a break above the 50-period SMA around 1.3350? That would give me more confidence that the trend is actually changing. What are your thoughts on that level as a potential confirmation point?