The Pound vs. Canadian Dollar exchange rate forecast for the coming week: the technicals suggest further gains while the outcome of cross-party Brexit talks and Canadian employment data will provide the fundamental focus.

Despite Sterling opening stronger against the Canadian Dollar, from a technical standpoint the trend in GBP/CAD is now marginally bearish.

The Pound is looking marginally bearish against the Canadian Dollar from a technical perspective, leading us to expect declines over coming days.

The Pound appears to have exhauseted its rally potential against the Canadian Dollar, but how the exchange rate ends this week will depend on UK employment data and a slew of releases out of Canada.

From a technical outlook point-of-view, the bigger picture continues to show GBP/CAD possibly poised to weaken over the course of the coming week.

The Pound-to-Canadian-Dollar rate was trading at 1.7436  Monday after falling over nearly two percent in the previous week, although studies of the charts suggest more losses could be just around the corner. 

The Pound-to-Canadian-Dollar rate was trading around 1.7692 Monday after a week that saw it little changed by the Friday close, although the market is now at a technical inflection point and the path ahead uncertain given mixed signals coming from the charts. 

The Pound-to-Canadian Dollar rate is to begin trading around 1.7719 Sunday after rising more than 1.5% in the previous week, although technical studies of the charts suggest the exchange rate is close to having exhausted its uptrend. 

The GBP/CAD outlook is now marginally bearish after the pair rose up and touched the top of a long-term sideways range, between roughly 1.75 and 1.68, and reversed lower.

The GBP/CAD exchange rate reflects two currencies caught in a war of attrition, whereas other Sterling-based pairs are showing clear biases towards further gains.

The Pound-to-Canadian Dollar rate was trading at 1.7145 Monday after rising more than 0.5% last week, but the days ahead are likely to see the pair remain within its established multi-month range pending a fundamental driver that breaks the deadlock. 

The Pound-to-Canadian Dollar rate is trading at 1.7075 at the start of the new week after falling -0.65% in the previous week’s trading, and looks poised for another period of range- bound trading ahead. 

The Pound-to-Canadian Dollar rate is set for more range-bound trading during the week ahead as oil prices dominate the narrative around the Loonie while the Brexit saga and GDP data are front and centre for Sterling.  

In the medium-term, we are still marginally bullish based on the fact the pair has broken clearly above the range highs on two occasions, as well as the up-sloping nature of the range lows which have risen over time - both are signs of bullish intent.

The Pound's outlook against the Canadian Dollar has shown a material improvement of late, and on this basis we could expect further gains. But, we are wary of volatility around Tuesday's key Brexit votes in the British parliament and an unexpectedly positive Canadian GDP data release due out mid-week.

The Pound vs. Canadian Dollar is likely to trade familiar ranges on a technical basis but the ongoing trend in Brexit developments remains supportive of Sterling overall.

Technically, GBP/CAD is back in the middle of its longer-term trading range between 1.66 and 1.75 and the outlook for the pair remains uncertain as there does not appear to be in any dominant overarching trend.

From a technical perspective GBP/CAD looks to be breaking out of the top of a range it has been in since it based in August and that it could surge up to a target in the 1.77s.

The Canadian Dollar has spent December on its back foot but the downtrend has recently lost momentum and all of this could change before over coming days because one last big test now awaits the Loonie during the week ahead.

The Pound and Canadian Dollar are trading a tight range however with a big week for Brexit looming and growing concerns over Canada's housing market, volatility could increase of the near-term.