the Pound's collapse from 13.8686

Discussion in 'Technical Analysis' started by Wallace, Feb 28, 2010.

  1. 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 ;
  2. 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. :D