British Pound probable scenario

British Pound weekly chart analysis ;
Let's get a quick fact straight ; We use charts to "predict" the next move.
We also use charts to balance 2 possibilities ; risk and reward.
Since I have NO idea what the future looks like, I'll use the current recent pattern to make an educated guess, using two key trigger levels ; (1.600 and right below 1.540).
1) After the Pound's "crash" (from its high in 07), it managed to find a reliable support level above 1.400 ; How do we know its reliable ? That level was revisited in June, and price managed to bounce higher.
2) Price zoomed higher to find a resistance level @ 1.600 (earlier congestion level).
3) Based on current chart pattern, based on the fact that most pattern after a crash tend to have wild swings, based on the fact that the UK economy is improving (but not out of the financial mess), I see the blue arrow as the most probable scenario. The swings will be less "wild", eventually sending us in a tighter channel.
4) Then ? Well since the world is facing a currency war, expect most nations to "fight" an uptrend in their currencies. Good thing they did NOT join the Euro ......