The Pound Sterling has declined by 1.02% against the Canadian Dollar since last week’s trading sessions. The currency pair breached the 50– and 200– period SMAs last week.
All things being equal, the exchange rate could continue to edge lower during the following trading sessions. The potential target for the GBP/CAD pair will be near the 1.7000 level.
On the other hand, the currency exchange rate could reverse from the current price level at 1.7117 and target the 1.7200 area within this week’s trading sessions.
