To see a pencil in your dream is generally good luck. However, this dream can also suggest that a certain relationship won’t last long.
To dream of sharpening a pencil, whether it is you or someone else doing the sharpening, suggests that you need to be more flexible in your way of thinking. Listen to what others have to say and don’t be so quick to reject their views and opinions.
Also see “Pencil Case” and “Pencil Crayons”, below.