The Pound Sterling fell by 1.20% against the Canadian Dollar last week. The decline was stopped by the 200– period simple moving average at 1.7215 during last week’s trading sessions.
All things being equal, the exchange rate could continue to edge lower. A breakout through the lower line of an ascending channel pattern could occur within the following trading sessions.
However, the 200– period SMA at 1.7215 could provide support for the currency exchange rate this week.
