The Pound Sterling has edged higher by 4.06% against the Canadian Dollar since the middle of July. The currency pair tested the 1.7700 level during last week’s trading sessions.
As for the near future, the exchange rate could continue to surge in an ascending channel pattern during the following trading sessions. The possible target for the GBP/CAD pair will be at the 1.7900 level.
By and large, the currency exchange rate is expected the make brief pullback towards the 50– period simple moving average at 1.7331 in the shorter term.