Canadian Dollar weakness over the coming months is a high conviction view at Wells Fargo, the North American bank.

GBPCAD has recovered enough to invalidate the recent downtrend but it remains too soon to call an outright rally given the risks associated with this week's Bank of England decision and the next GDP figures from Canada.

In the coming week, the Canadian Dollar's main focus is the Bank of Canada (BoC) decision midweek, where the market favours an announcement for the policy rate to be maintained at 5.0%.

The Pound's upside momentum against the Canadian Dollar has stalled, leading an analyst at one of Canada's primary banks to warn a reversal could soon occur.

The Canadian Dollar is expected to undergo "more Weakness Before a Revival in 2024" according to economists at CIBC, one of Canada's largest lenders and investment banks.

GBPCAD's short-term rebound has been halted by a flareup in geopolitical tensions, although it is too soon to say the pair is about to return to lows around 1.6350.

Analysis from a leading Canadian bank says the British Pound and Euro can extend a recent short-term advance against the Canadian Dollar, although the outlook against the Dollar is a little murkier.

The Pound to Canadian Dollar exchange rate (GBPCAD) is looking to extend a short-term rebound in a week that will be dominated by the release of Canada's monthly labour market statistics.

The Pound to Canadian Dollar exchange rate's recent fall has been breathtaking in scale with the pair recording a run of 12 consecutive days of decline, but a breather should now be expected according to a new analysis.

GBPCAD has entered a downtrend that can be expected to advance over the coming weeks, but the next five days could see some consolidation as the daily chart is screaming of oversold conditions.

The Pound to Canadian Dollar exchange rate (GBPCAD) looks set for further declines according to a new analysis from Canadian bank Scotiabank, although short-term indicators suggest the pair might be reaching oversold conditions.

GBPCAD is about to break the 200-day moving average, opening the door to a determined downtrend.

GBPCAD has been edging lower through the August-September period and is now at a key support zone where failure could confirm the 2023 uptrend has likely ended.

The Pound to Canadian Dollar exchange rate was struggling for momentum near one-month highs early in the new week after an eight percent rally from February lows appeared to stall just above 1.73 in the middle of July and the risk is now of a correction entailing a setback as far as the 1.7039 area in the days or weeks ahead. 

The Pound to Canadian Dollar exchange rate climbed back to within arm’s reach of 2023 highs early in the new week but while it could remain buoyant in the short-term there is also a risk of corrective losses for Sterling and GBP/CAD if official data reveals any sign of Bank of England (BoE) interest rate taking its toll on the UK economy. 

The Pound to Canadian Dollar exchange rate entered the new week on the back foot near a major level of technical resistance on the charts and was attracting sellers ahead of the latest Bank of England (BoE) forecast update and North American job reports while risking slippage back toward the 1.96 handle.

The Pound to Canadian Dollar exchange rate has reversed sharply from some of its highest levels for more than a year and entered the new week with a nine-month uptrend hanging in the balance on the charts with the outlook hinged on whether it can hold a nearby technical support in the 1.6850 area. 

The Pound to Canadian Dollar exchange rate entered the new week at more than one-year highs but could be susceptible to a sharp corrective setback if UK inflation rolls over on Wednesday though the prospect of further declines in Canadian inflation beforehand could support GBP/CAD ahead of the midweek session.  

The second half of 2023 is "unlikely to be as good as H1" for the Canadian Dollar, says a major Canadian bank.

The Pound to Canadian Dollar exchange rate entered the new week near some of its best levels for more than a year but could soon get an opportunity to reach new highs if it's correct to interpret Wednesday's Bank of Canada (BoC) interest rate decision as something of an asymmetric downside risk for the Loonie.