Possible end of GBP

[AK100]

Not saying that sterling has hit a bottom or is going to rally but NEVER forget the old saying -

"A market never looks as bad or as bearish as it does when it's on its low"

 

[just21]

New lows against the yen and dollar are not being confirmed in euopean crosses.

 

[achilles28]

Quote from JSSPMK:

It won't & charts do point to GBP being just dumped in exchange for other currencies. I wonder whether they would start hinting at joining EUR in 2009.

Yes and Yes.

British Government has long-standing plans to join the EU.

Pound going to parity with EURO, as a consequence.

 

[short&naked]

Quote from JSSPMK:

ImPO GBP is about to seize its existence, longer term charts look just horribly bearish trading either at or below major support areas, descending triangles, parabolic moves vs EUR, GBP seems to be the weakest link when compared to JPY, EUR, CHF & even USD.

To me it looks like we (British) are about to join EUR.

Think about what you are saying: PARABOLIC MOVES...

 

[minx]

Quote from achilles28:

Yes and Yes.

British Government has long-standing plans to join the EU.

Pound going to parity with EURO, as a consequence.

Um... why is that a consequence? You dont have to get 1=1 before you can join something.

 

[point&click]

Quote from JSSPMK:

ImPO GBP is about to seize its existence, longer term charts look just horribly bearish trading either at or below major support areas, descending triangles, parabolic moves vs EUR, GBP seems to be the weakest link when compared to JPY, EUR, CHF & even USD.

To me it looks like we (British) are about to join EUR.

Sure the pound is weak at the moment but why would Britain feel the need to join the Euro?In February 1985 the Pound/Dollar traded $1.05 and the pound survived just fine.

A weak pound gives people from other countries bigger spending power for property and goods(so helping British exporters) in Britain and encourages tourism.With the current Exchange rate the tourist resorts of Europe and America will suffer without the Brits who famously spend a small fortune each year on vacations abroad.

Also Spain,Greece and Portugal have recently been downgraded by Standard & Poor's yet Moody's ruled out the prospect of a UK downgrade.

The end of The British Pound?No way.

A weak British Pound?Definitely,and for a while too.

 

[JSSPMK]

..."“If you think we’re going to build our policy around comments from speculators who want to make money, you’re very, very wrong indeed,” Brown told the BBC on Jan 23.

Rogers later told Bloomberg Television the currency was “going to be under pressure” because the U.K. “hasn’t got much to sell to the world any more” and has “stupendous debts"...

http://www.bloomberg.com/apps/news?pid=20601087&sid=aFSYZfp7yK6E&refer=home

 

[JSSPMK]

Quote from point&click:

Sure the pound is weak at the moment but why would Britain feel the need to join the Euro?In February 1985 the Pound/Dollar traded $1.05 and the pound survived just fine.

A weak pound gives people from other countries bigger spending power for property and goods(so helping British exporters) in Britain and encourages tourism.With the current Exchange rate the tourist resorts of Europe and America will suffer without the Brits who famously spend a small fortune each year on vacations abroad.

Also Spain,Greece and Portugal have recently been downgraded by Standard & Poor's yet Moody's ruled out the prospect of a UK downgrade.

The end of The British Pound?No way.

A weak British Pound?Definitely,and for a while too.

Thanks for the input. Of course I have no idea whether GBP will or won't 'survive' this, apart from this thread having a catchy title one can't dismiss that GBP is weakening against so many currencies, which is very worrysome. If low, then how low? If GBP goes 0.5/1 vs EUR, then to me it's as good as calling it finished. As I said previously, my opinion is to do with the way GBP charts look, not FA. I don't understand it enough to make any sort of opinion.