GBP/CAD is under pressure ahead of the Bank of Canada's Wednesday decision.
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The Canadian dollar is vulnerable to further weakness as the Bank of Canada is set to leave the door open to further interest rate cuts at next week's meeting.
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Bank of America says risk-reward now favours a move higher in the Canadian dollar. despite the prospect of delayed rate cuts in Ottawa.
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GBP/CAD could ease back from last week’s multi-year peak in the coming days as short-term momentum unwinds from overextended levels.
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The Canadian dollar suffered a setback on renewed trade tensions south of the border.
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Bank of America says fiscal expansion announcements due on November 4 hold bullish implications for the Canadian Dollar.
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GBP/CAD trades in the red on Monday, but the setup remains favourable for gains to be realised in the coming days.
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