GBPCHF only monthly close in 66 year history dating to January 1953 is 1.2180.
Currently trades below. Below 1.2180, a price doesn’t exist.
GBPUSD Last Monthly close at 1.2200 then 1.1853 was seen at the time of the Plaza Accords in 1985 when G5 central banks engineered USD Higher.
1.2200 = Oct 1984, then 1.1853 December 1984. Below 1.1853 then 1.1307 January 1985. Lowest of lows during Plaza Accords was 1.09.
GBPUSD‘s straight down slide began at 1.3300’s in March.
Against lowest of low BOE interest rates on record, hard to argue GBP can be lifted by Interest rates alone.
Just to normalize, GBPUSD must trade to minimum 1.2900’s, or 700 pips to offer how severe are current lows.
GBPCHF to normalize must trade to minimum 1.2800’s easily, that’s also 700 pips