The Pound to Canadian dollar exchange rate receded further from recent multi-year highs last week but the author’s model suggests it should remain well supported above 1.7660 over the coming days, and that it could have scope to retest the 1.78 handle in some circumstances.
GBP/CAD retains a constructive setup, but the coming week could see some of the recent moves retraced as investors account for a potential Bank of England interest rate rise on Thursday.
The Canadian Dollar has fallen across the board after the Bank of Canada cut interest rates for the second time in as many months.
The Pound to Canadian Dollar exchange rate is close to three-and-a-half-year highs as the Bank of Canada looks to cut interest rates again this week.
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