Pound to Canadian Dollar Forecast: 1.7617 in Three Months

The scale of the Pound's fall against the Canadian Dollar last Friday was significant and we wonder if it has dented what was one of global FX's best-defined uptrends.

Momentum remains firmly in favour of further GBP/CAD strength, but the odds of a correction from overbought conditions are increasing.

GBP/CAD has had a strong run of late, but last week we saw some selling pressure mount amidst a correction from overbought conditions.

The Canadian Dollar has endured a widespread selloff against many of its G10 peers in recent days amidst heightened expectations that the Bank of Canada will cut interest rates next month, but selling pressure can ease this week.

The Canadian Dollar forecast for the week ahead shows better prospects for advance against the U.S. Dollar but vulnerabilities against the Pound and Euro.

Royal Bank of Canada says it has once again lowered its forecast profile for the Canadian Dollar.

The Pound and Canadian Dollars find themselves in similar positions: both currencies have been weighed down of late by the suspicion their respective central banks are going to cut interest rates in June.

National Bank of Canada says the Canadian Dollar's trend of depreciation is likely to continue owing to economic weakness in Canada, the prospect of lower interest rates and a "CAD-unfriendly" federal budget.

GBP/CAD's near-term technical outlook is "shaping up positively", according to a new analysis.

The Pound's near-term setup against the Canadian Dollar is one of consolidation but with an eventual upside bias.

The Pound to Canadian Dollar exchange rate's technical setup looks supportive of further near-term gains, but much will depend on this week's Macklem speeches and the U.S. payroll report.

The Pound's outlook against the Canadian Dollar has undergone a significant shift in fortunes, potentially tilting from an upside bias to a downside bias in the space of just two days.

GBP/CAD is forecast to see gains fade near 1.1710 and losses staunched close to 1.7130 in the coming week, which will be dominated by UK and Canadian inflation releases.

GBP/CAD is looking a whole lot perkier than at this same point one week ago, courtesy of that soft Canadian jobs report on Friday.

There is a definite feel in the air that the Pound's outlook against the Canadian Dollar has flipped to the downside amidst strengthening U.S. data and rising oil prices.

The Pound to Canadian Dollar exchange rate is likely to pull back to a key support level in the short term, but the multi-week setup remains constructive.

GBP/CAD hit its highest level in years just last week, but there has been no follow-through, meaning this could be a pivotal week for the pair.

GBP/CAD kissed a new two-year high at the start of the new week, but is now pulling back.

GBPCAD looks constructive heading into this week's UK budget and Bank of Canada policy decision.

Commerzbank analyst Michael Pfister predicts the Canadian Dollar will appreciate against the U.S. Dollar, Pound and Euro over the coming months.