Potential for Pound to Fall 20% Against the USD?
The Pound has traded in a very well defined and behaved downward sloping channel against the USD for nearly a quarter century b/t lines (1) and (2) below.
The only time this was not the case was during the global re-flationary housing boom during 2003-2007.
With the Pound’s recent break-down from the consolidation/flag pattern of lines (1) and (3), is its downside into ~120-125, some 20% lower, now ensured?
