The Canadian dollar is a potential tactical buy, says one FX strategist, noting the balance of positioning, oil dynamics and the technical setup favours gains.
GBP/CAD Recovery Capped by 200-day EMA
- Category: CAD
Three-way risks surrounding the war in the Middle East will determine how the pound-Canadian dollar exchange rate evolves this week.
GBP/CAD gapped lower at the open on Monday, sliding to 1.8409 from Friday’s close at 1.8424.
GBP/CAD's sharp reversal wipes out last week's gains, pointing to deeper losses ahead.
