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Chapter 6. RSI BAMM > British Pound/USD (GBP_A0-FX): Weekly Specific Type of Re...

British Pound/USD (GBP_A0-FX): Weekly Specific Type of Retest: RSI Mid-Point (50 Limit) Requirement

Following the initial reaction after the complex RSI formation, the British Pound declined sharply in price and, more importantly, in the RSI reading (see Figure 6.58). Although the setup consolidated at the 50 line for several months, the eventual breakout from the initial downtrend line and the rally in the RSI marked the beginning of the final phase to complete the RSI BAMM Confirmation Point.

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Figure 6.58.


  

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