To my British friends, asset holders, and investors...

any major rally we see from here is just a relief rally - yes, that means even if the pound rises by 10% from here, it is just temporary. On a smaller time-scale, I prefer to own Sterling, but that would be on the daily scale, and this bit is for my traders - not the 'average' investor or asset holder. For those of you that own real estate denominated in British Pounds, or hold bags of cash in your closets and mattresses, this is the logical thing to do.

You plan to reinvest all that cash and asset denominated in Pounds elsewhere. Plan now. Hopefully, you'll have found something exceptionally interesting to trade that cash for another asset by the time the pound hits one of those dashed lines ("Either way we are going down"). If/when we reach one of those dashed lines, that is when you execute that big plan.

Cheers.

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I don't think we're ready yet for a major drop. But I would avoid any long GBP trading for now.

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Markets can take long to develop.. it looks like this one is nearly at the first target of 1.10 GBP per USD.

I expect lower than parity from here.

We have a new trade to add to or enter in:

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4 years later and the currency crisis in full swing, back at 1985 lows here.