The Pound Sterling has appreciated about 1.69% in value against the Canadian Dollar since October 29.
Technical indicators flash buy signals on the 4(H) time-frame chart. Therefore, the GBP/CAD exchange rate will most likely continue to edge up within this week’s trading sessions.
Bullish traders could aim for the upper boundary of an ascending channel pattern at 1.7362 in the shorter term.
However, the weekly R3 at 1.7152 could provide resistance for the currency exchange rate during the following trading sessions.
