GBPCAD...Going higher...Long term analysis...
Pound-to-Canadian Dollar Rate Week Ahead: Staying Bullish Despite Recent Decline
- GBP/CAD seen supported on dips
- Key risk event is Bank of Canada meeting mid-week
- Pound to be bucked by threesome of key economic data releases this week
The British Pound has been in decline against the Canadian Dollar since mid-March when a top of 1.8415 was hit and a wave of Canadian Dollar buying sent GBP/CAD back lower.
The exchange rate will start the new week from 1.7946 having appeared to have settled just north of ~1.7830; the buying interest in Sterling witnessed in this region could allow GBP/CAD to put in a base and draw a line under the recent bout of weakness.
ORIGINAL ARTICLE AND CREDIT GIVEN TO: Written by Gary Howes @ www.poundsterlingliv...head-staying-bullish
- GBP/CAD seen supported on dips
- Key risk event is Bank of Canada meeting mid-week
- Pound to be bucked by threesome of key economic data releases this week
The British Pound has been in decline against the Canadian Dollar since mid-March when a top of 1.8415 was hit and a wave of Canadian Dollar buying sent GBP/CAD back lower.
The exchange rate will start the new week from 1.7946 having appeared to have settled just north of ~1.7830; the buying interest in Sterling witnessed in this region could allow GBP/CAD to put in a base and draw a line under the recent bout of weakness.
ORIGINAL ARTICLE AND CREDIT GIVEN TO: Written by Gary Howes @ www.poundsterlingliv...head-staying-bullish