The Pound Sterling has declined by 1083 pips or 6.01% in value against the Canadian Dollar since last week’s trading sessions. The currency pair tested January low level at 1.6915 on Friday.
As for the near future, the GBP/CAD exchange rate will most likely to continue to decline. Bearish traders could target the psychological level at the 1.6400 area during the following trading sessions.
On the other hand, the currency exchange rate could make a slight upward movement within this week’s trading sessions.
