What to do about sterling?

[fleetwood]

Hi, normally I just trade indices using my spreadbetting account and so far its going well. Im looking at the ftse 100 and alot of the other major indices and they all look like the brown stuff is about to hit the fan. I cant help thinking sterling will tank again like it did a few years back. I was wondering if someone out there who knows what there talking about when it comes to forex could give me some advise. If something bad did happen and the market did plunge would sterling plunge again? Or is it pretty much as low as it will go?
Thanks

 

[fleetwood]

Im guessing no ones really got a clue?

 

[Martinghoul]

Why do you want someone's opinion? I have one, but it's very likely to be wrong.

 

[xtf]

Make like a Demark and draw a huge triangle on it!

 

[bbmac]

No-one can predict future price discovery, wether that be for the next minute, hour, day, week, month, or year. If there is a catastrophic event or series of events to hit the british economy, then yes - based on historical precedent the £ is likely to lose value, but to what extent I have no idea beacuse that event has not happenened so the price action has not unfolded that may give an indication as to future strength or weakness.

G/L

Hi, normally I just trade indices using my spreadbetting account and so far its going well. Im looking at the ftse 100 and alot of the other major indices and they all look like the brown stuff is about to hit the fan. I cant help thinking sterling will tank again like it did a few years back. I was wondering if someone out there who knows what there talking about when it comes to forex could give me some advise. If something bad did happen and the market did plunge would sterling plunge again? Or is it pretty much as low as it will go?
Thanks

 

[Mornington Crescent]

your question is really far too vague

for example, which forex pair are you talking about ?

and as forex often leads, you may have asked the question the wrong way round

 

[xtf]

With the aforementioned triangle we would be long at around 1.5520:

​

 

[fleetwood]

Ok well I guess I got my answer. No one really knows. Im going travelling for about 6 months in asia/australia so ive been worried that exchange rates might get worse. Normally I wouldnt be bothered about what happened to exchange rates.
Anyway i'll just keep an eye on how sterlings doing against currencies in asia/australia and just try to protect myself as best as I can.