The British Pound has been edging higher in a junior ascending channel pattern against the Canadian Dollar since the end of March. The currency pair bounced off the bottom border of the channel pattern at 1.6651 on March 23 and has gained about 5.51% in value during this period.
Everything being equal, the exchange rate will most likely continue to surge in the junior ascending channel pattern through the following trading sessions. The potential target will be at the 1.8200 area.
However, the weekly resistance level at 1.7651 could provide resistance for the GBP/CAD currency exchange rate in this week.
