After reaching the monthly pivot point at 1.6777 formed during the first week of January 2018, the British Pound continued to gain strength against the Canadian Dollar.
The pair broke the previous channel down and continued to form a new high. A new junior channel has been mapped to trail the market movement.
The pair is likely to continue trading north until it finds resistance at 1.7854, which is the highest level since early May, 2017. When or if it happens, the pair might make a temporary retracement south.
