This is something that everyone trading GBP should know and consider. If you load up the chart on any trading platform, you won't get any data before 1986. Pound is freely traded since 1971 when it joined ERM. I have projected price, just as a straight line to see the range. Pound is not making all time lows, it is making 30 year lows.

The lowest price ever recorded is 1.05 in February of 1985.

Could we see the price to go that low? It is possible. But we have to consider few other things.

  • Pound just loves round numbers. Strongest being 2.00, 1.70, and 1.40. We are below 1.40, but we are also right at 1.30.
  • It can take a lot of time to accumulate big enough position to start pushing the price to the upside. Look at the 2000-2002 lows, it took almost 2 years to break away from 1.40 level. 16 months to top out before falling during ''crisis'' in 2008.
  • We are now just 2 months into these lows
If the price is to go lower I would expect some small push to the upside one, two or even several times.

If anyone has any comments or thoughts on this, I would definitely like to hear from you in comments.
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