After a sharp decline during the end of August, the Pound Sterling is gradually gaining strength against the Canadian Dollar. The currency pair appreciated about 2.13% in value during last week’s trading sessions.
As for the near future, the exchange rate will most likely continue its bullish momentum. Bullish traders might target a resistance level formed by the weekly R2 at 1.6537.
Although, a resistance cluster set by the weekly R1 and the monthly R1 near the 1.6400 regions could hinder the bullish movement within this week’s trading sessions.
