A junior ascending channel pattern guided the Pound Sterling against the Canadian Dollar during last week’s trading sessions. The currency pair tested the bottom border of the junior channel on April 24.
Most likely, the exchange rate will continue to edge higher in the junior ascending channel pattern within this week’s trading sessions. The potential target for the GBP/CAD pair would be at the 1.8000 area.
However, given that the currency exchange rate is currently trading near the lower boundary of the junior channel, a breakout might occur during the following trading sessions.
