at the height of the US Civil War in 1864, the Pound rose to 13.8686 v the $ since then it's fallen somewhat and is being touted as 'ready to collapse' it achieved a low of 1.052 in 1985 - Soros remembers that one - rose to 2.1164 in 2007 and since declined, rallied and is currently declining again it's possible the Pound could drop to a similar 1985 low, or lower, until 2013/14 before beginning to increase in value the 1980s were a period of high unemployment and falling houseprices that peaked in 1979 here in Vancouver, Canada, while the DJIA and S&P 500 etc in 1982 began again the rally that lasted with corrections until 2007 the Pound could form at a similar low a large base, but i'd have to think it would be a period of stagnation, falling house prices and the unlikelyhood of the UK adopting the Euro since it too has 'collapsing' problems the fibos on the chart work quite well, just don't expect me to update it for for a few years ;
1) Being a currency trader from the 1830's to the 1850's had to have been a bummer. 2) Forget about long-term forecasting. Just tell us what tomorrow's settlement price will be, today.