The Pound Sterling has surged by 362 pips or 2.16% against the Canadian Dollar since July 1. The currency pair tested the upper boundary of an ascending channel pattern at 1.7167 on July 13.
Everything being equal, the exchange rate could continue to surge in the ascending channel pattern. Bullish traders are likely to target the psychological resistance level at 1.7300 this week.
However, the weekly resistance line at 1.7181 could provide resistance for the GBP/CAD currency exchange rate within this week’s trading sessions.
