This thesis is at the crossing point of dierent elds: Quantum Magnetism which studies the collective properties of low spin systems, Neutron Scattering a powerful technique that enables to probe the microscopic properties of matter, and High Pressure where the use of ultra hard materials allows discoveries in a previously unexplored range. Combining these, we shall search for novel states in magnetic materials under extreme conditions. The extreme conditions are the quantum spin s=1/2, the low dimensionality, the low temperatures, and the high pressures. The material is the Shastry-Sutherland compound SrCu2(BO3)2, a model quantum magnet which has attracted considerable interest over the last decade.