THE WORST DAY FOR GBP SINCE 1848

[Denker]

Sorry Op but you're not investing, not even smart trading!
You're gambling! When you knew how risky it was to go into that deep in GBP/USD, what about your risk- and money management?
To me it seems like you completely ignored that and said to yourself: "'uck it, get rich or die trying!
You're greedy my friend! And when you have never traded with bigger volume before, I don't get it why try it out with the GBP now!
Imo you have lost your mind.

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[mriulian]

that sounds like the essence of degenerate gambling to me but if that's what you wanna do, go do it.

If you look at currencies that were almost the same, they had a grew or a fall for ever.

So this is the point of how i am thinking.

[azguard]

worst possible way is to invest in GBP right now currency is unstable and i will take long time to recover if even recover at all
better for you that you invest in some coin or something else gold/silver not in another currency

[mindrust]

Good, I always hated gbp for being so expensive against the others. It should be 1$=1£. And it will be, very soon. Euro will die too. Just move to USD it is the only real FIAT currency.

[SANALIU]

after brexit poundsterling down and down
is very bad value price poundsterling after brexit
in two week is worts in poundsterling price

i think after brexit much country not believe and reduce trusted about poundsterling
maybey economic team in england goverment must create economic pakckages is good to incraese trusted about poundsterling

[wikenpp]

after brexit poundsterling down and down
is very bad value price poundsterling after brexit
in two week is worts in poundsterling price

i think after brexit much country not believe and reduce trusted about poundsterling
maybey economic team in england goverment must create economic pakckages is good to incraese trusted about poundsterling

I believe the bad days for the UK and their currency: GBP are yet to come. Without the EU for trading. The island will once again become isolated, just look how France and the UK are already fighting about euro tunnel.  With banks leaving the UK, to serve their EU clients, london will also feel some pain, but in general the suburbs will be hit hard. Sad days for unity and economic growth.

[Raize]

Hard Brexit will happen in about 3 years and will ultimately be good for GBP. There's some global elites that aren't comfortable with it right now and it could continue to suffer as they dump, but having *some* position in it isn't a bad thing, honestly. Don't take naysayers right now too seriously, but also don't trade with a day-to-day or even month-to-month mindset. Start thinking about years.

Ultimately I think Brexit will not be soft and that will be to Britain's benefit in the long term. Those same large entities that are dumping now will have to buy to have that asset to trade with, and they'll be sorely missing it at the time of a hard exit. Smart investors should know a hard exit will end up being inevitable, as the EU is too needy already now (and will most certainly be in two years) with demands for an exiting Britain.

[The Sceptical Chymist]

<snip>Since you are not a sociopath<snip>

Whoa there!  Though I wouldn't assume this fine gentleman isn't a sociopath, there's absolutely no way to tell.  In fact, given the turds who frequent bitcointalk regularly, it might even be prudent to assume sociopathy is a given.  The lending section and most of the gambling section are chock full of 'paths.  And other assorted mental illnesses.  It's like a big psycho grab bag.

[Shiroslullaby]

GBP is a very dangerous investment right now.
It may bounce back at some point in a few years, so a long term investment could be okay.
But in the short term, I wouldn't be surprised if we saw 1:1 with the US Dollar.

[Snorek]

Op, what do you expect? have you really thought that trading GBP after Brexit and signs of overall economic turmoil which is happening in Europe right now is good idea?
Haven't you noticed what markets reacted? You should have sold all your Pounds right after Brexit - it is too risky trading this currency now.

[veleten]

simply BAD trading practice,the signs of an inexperienced trader
or should I say gambler?
chasing loss-tick
emotion based trading(gambling)-tick
playing with the money you cannot lose-tick
haven't you read any newspapers recently?
heard about Brexit and Europe migrants problems?
with GBP being volitile like hell and hitting the lowest since god knows when OP stays in GBP and doesn't hedge his loss
I really pity your plight,but you should not have risked your savings and stuck to 50-100 pound per month gambling

[Dux2K]

Force possible option is to invest in GBP simply bad only would cause lost in investment
This is worst British pound for as far as a know it was always good currency but after brexit its will take to much time to recover

[veleten]

Force possible option is to invest in GBP simply bad only would cause lost in investment
This is worst British pound for as far as a know it was always good currency but after brexit its will take to much time to recover

especially with all these foreigners flooding our island and taking jobs away from our poles!

think this graph says it all



there are some signs of life,a rally
but the abyss GBP has fallen to is too deep

[STT]

after brexit its will take to much time to recover

After brexit and yet UK is in the European union and will be for maybe two more years.   This is all speculation and it happens especially because UK has a trade deficit and also a fiscal deficit.  So despite being a world reserve currency to a minor extent its heavily subject to speculation and thats mostly what is happening right now.   Fundamental changes in business and currency demand have not yet occurred since late June, its far too early.
On top of that the Euro and Dollar are moving targets subject to their own weakness and varied popularity and use, right now Dollar is stronger for the perception of its presidential election and Federal Bank.  I suspect those two factors intersect and we'll see a change in stance by the Fed post election, that should be more significant then the UK not yet leaving EU

[veleten]

Brexit has had very significant impact on GBP and banking sector in general
I'm afraid we haven't seen the low yet,more,dire things to come as a result of the major shift towards China both in terms of finances and global management
suffice it to say that major banks are planning to pull out of Britain,just read the articles here:

http://www.breitbart.com/london/2016/10/11/workers-threaten-sue-banks-relocating-brexit/

https://www.ft.com/content/a3a92744-3a52-11e6-9a05-82a9b15a8ee7

https://www.theguardian.com/politics/2016/oct/22/leading-banks-set-to-pull-out-of-brexit-uk


 

[Monnt]

that sounds like the essence of degenerate gambling to me but if that's what you wanna do, go do it.

If you look at currencies that were almost the same, they had a grew or a fall for ever.

So this is the point of how i am thinking.

It is normall to have a currency value fall or rise, this is because the demande and supply of that currency differs over the time. If the demand exceed supply, you get rise in the value and vice versa. Hence, no point worrying about that. Demand and supply are usually affected by news and events. Fall and rise are very common to any commodity.

[MingLee]

that sounds like the essence of degenerate gambling to me but if that's what you wanna do, go do it.

If you look at currencies that were almost the same, they had a grew or a fall for ever.

So this is the point of how i am thinking.

It is normall to have a currency value fall or rise, this is because the demande and supply of that currency differs over the time. If the demand exceed supply, you get rise in the value and vice versa. Hence, no point worrying about that. Demand and supply are usually affected by news and events. Fall and rise are very common to any commodity.

\Considering the timing chances are it's a bunch of large currency traders trying to pull out of the pound due to a perceived future decrease in value through Britain finally leaving the EU (Something which was mentioned for around March next year), and they just chose to leave now.

Not sure why it would go down otherwise, but I don't keep up with UK economics and politics.

[afbitcoins]

One fact little mentioned is that our Goldman Sachs Canadian Central Banker (Mark Carney) has fired up the printing press with Moar QE. His solution to the pound being weakened after Brexit is to devalue the pound !!!! And he gets a pat on the back. Unbelievable.

However hard brexit is the right option for Britain to stay as a soverign country. The fall of the pound will have economic benefits and might help Britain actually do some manufacturing and exporting to stimulate real/not fake recovery.

Next crisis in the eurozone and Britain will be shielded from it.

[n691309]

Hi guys,

Is anyone that is good at investments?

Today I lost more than 20.000$ with GBP/USD.

So what do u think?

I have paused investing or trading because of the many pumps and dumps happening even though it is a good time to invest/trade because of the bitcoin price change but in your case losing 20k is pretty high, what amount do you trade daily?

[STT]

Mark Carney hasnt restarted QE but just the talk or indication of that possibility and its a very real one, is enough to weaken sterling.    Federal reserve has been doing the opposite talking up the idea of rate rises while actually only performing one very feeble rise in an entire decade.    Thats quite some game they play.

UK lowered rates but the difference was fairly insignificant, I think it is just the larger picture that the entire bank of England policy is towards very loose money.   This is while UK also has a fiscal deficit, trade deficit and perceived weakness from leaving possibly the worlds largest trading block.
   IF UK keeps good relations with Germany and I guess also France then you have a situation very similar to when UK is in the EU, really people move from fear and then state this as fact when it was just a first reaction.  I do believe economies are founded on peoples efforts and strengths not politics, Im going to be surprised if words matter more then actions.
Germany has every reason to continue good trade with us no matter what, UK is a major customer for them and its both our best interests.   Politics doesnt decide this, the people of Germany and their workers already determine what happens, EU or not is very much secondary to free will