GBPCAD has renewed its year-long minimum at 1.66366 and is now trying to set up an upward bounce. During its meeting on December 8th, The Bank of Canada kept the interest rate intact at 0.25. On December 16th, the Bank of England will host another meeting, and it’s expected that there at least will be some tightening of the Bank’s rhetoric. It’s quite possible that the interest rate will be raised which will support the Pound. The nearest growth target is 1.705.
This content is for informational purposes only and is not intended to be investing advice.
