The Pound Sterling has been trading in a two-week ascending channel against the Canadian Dollar. The currency pair made a U-turn north from the lower boundary of the channel on October 3.
The exchange rate opens below a support cluster formed by the combination of the weekly and the monthly PPs at 1.7089 during Monday’s session.
As for the short-term future, it is expected for the currency exchange rate to aim at the three SMAs located near the 1.6963 within this session.
On the other hand, the GBP/CAD pair could fills the open gap north at 1.7115 during the following trading session.
