Don't you mean 2004? 12/16/04 the GBP was at 1.9465. Nov 2005 the GBP was at a two year low at 1.7143. I believe it is very likely the GBP will hit $2 before the end of the year. It is following the same trends and patterns that I mentioned in the post I placed earlier today. (see below) However due to the levels and significant line up of the dates, I believe it is more probable that the EUR will hit 1.3500+ by the end of the year.
"I have been following and profiting from this move since mid Nov. Has anyone noticed the amazing similarities of mid Oct 2006 thru the present time, to Mid Oct 2004 to the same time (mid Dec) 2004. The most notable dates are 11/23/04 to 11/22/06, 11/26/04 to 11/24/06, 12/03/04 to 12/03/06, 12/10/04 to 12/15/06. Is this just a coincidence, because beginning 11/24/06 I began trading on this pattern and have made a lot and lost little. If this continues we should expect a long beginning very soon thru the end of the year. Have I just been lucky, or is this probable?"