GBP/CAD remains trapped inside a broad multi-month range, but the recent price action suggests bullish momentum is rebuilding and the pair is attempting another move toward the top of the channel.
GBP/CAD has come under pressure of late but the coming week suggests the pair will be better supported.
The pound-Canadian dollar is set to retain an incredibly tight trading range in the coming days as we await a trigger to end this phase of consolidation.
The Canadian dollar softened after the Bank of Canada held rates and signalled no urgency to tighten policy despite elevated inflation risks.