Pound Sterling’s Breaking Point

2022.09.26 18:51

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The is taking a beating in overnight trading as it crashed to a new all-time low of 1.0384, so far…below the record low set in early 1985.

Its long-term major support (breaking point) of 1.4000 was broken in April of 2016, and it never recovered.

The  has strengthened this year against all other foreign currencies, including GBP/USD.

Unless GBP/USD retakes and holds above 1.4000, expect more volatile swings and, possibly, a break below parity.

GBP/USD Monthly Chart

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