Of late GBP/CAD been moving towards the lower end of the range and we see a strong probability of a continuation of that short-term downtrend to the 1.66 range lows in the week ahead.

Sterling starts the new week on a firmer footing against the Canadian Dollar at the start of the new week with 1 GBP buying 1.6933 CAD amidst a broader pickup in Sterling exchange rates. Our technical studies do however suggest further losses are likely.

The GBP/CAD pair has just reached the upper boundary of that range and it will either breakout higher or fall back down within the range, we think it is more likely that it will fall back down.

Technical studies signal a good possibility this young rally could extend given the exchange rate has now successfully broken back above the 50-day MA at 1.6950, an event seen as a key 'right of passage' hurdle cleared for a young bullish trend in its life-cycle to maturity.

GBP/CAD reaches resistance and pulls back but it is too early to say whether this is a reversal or pause in the recovery.  Both GBP and CAD eye inflation and retail sales data on their domestic calendars this week.

The weekly chart is showing signs of a technical reversal after posting three up-weeks in a row and forming a Japanese candlestick pattern called a 'three white soldiers', which is a sign of a bullish reversal in the exchange rate.

GBP/CAD has recovered on NAFTA risks and Brexit progress and the charts suggest the pair may be reversing the down-trend on a short-term basis. The main release for the Pound is sector PMI data and for CAD it is the meeting of the Bank of Canada.

The daily chart shows that the pair is fast approaching a trendline which could provide a 'make-or-break' level for the exchange rate, above which it would suggest a new trend higher was forming.

Risks fairly well balanced for GBP/CAD at start of new trading week with Brexit concession hopes and Trump tariff tweet supporting.

GBP/CAD is now in established downtrend which is forecast to continue but support zone could stall the downtrend; a break below 1.6730 should confirm extension.

GBP/CAD is in a strong downtrend but nearing a support zone and the bear trend could stall is buyers come in at the May lows. The main event for Sterling is the Bank of England meeting, for CAD it is GDP growth data

GBP/CAD is still trading in a range above the 200-day MA but is within a broader downtrend and looks vulnerable to further weakness. Brexit machinations will continue to dominate Sterling and inflation data is the main release for CAD

Technical studies suggest GBP/CAD might be turning lower after a good run but Canadian employment data at the end of the week dominates CAD calendar and could move the market. The Pound meanwhile faces PMI data and important Brexit news this week

Technical studies suggest heightened risk of pause in the uptrend for GBP/CAD but for Sterling, much will depend on this week's EU summit. For the Canadian Dollar, global trade, GDP numbers and Poloz are in focus.

The GBP/CAD pair has reached a zone of resistance at the 50-day MA. Datawise, Sterling could move notably on a slew of heavy-hitting UK data releases while the Canadian Dollar will be tied to NAFTA and trade headlines.

From a technical perspective, the Pound-to-Canadian Dollar rate looks to be establishing a floor under its recent run of weakness at around the 1.71 level, from which it is currently bouncing.

The week ahead for GBP/CAD, including forecasts, analysts views, technical analysis and outlook for the economic calendar.

The week ahead for GBP/CAD, including forecasts, analysts views, technical analysis and outlook for the economic calendar.

Exchange rate forecasts, economic data, events, and analysts' views for the GBP/CAD pair in the week ahead.

GBP/CAD is looking extremely vulnerable in the week ahead as it probes the mid 1.70s.