Investing.com - Financial Markets Worldwide

GBP/CAD Long Validated

Published 08/21/2013, 11:33 AM
Updated 07/09/2023, 06:31 AM
GBP/CAD
0.15%

In our 5 Things to Watch Next Week column on Friday, we focused on Cable and the Loonie as being worthy of (y)our attention. Indeed, we were right.

As we can see from the chart below of the TradeMarkets GBP Index, the Monthly index change for GBP has not been this pronounced since Q1 2009. We added a green horizontal line for emphasis to display the historical relevance.

In contrast, the TradeMarkets CAD Index has not been this lively – on the downside – since at least Q2 2010. Again, the green horizontal line has been added for historical reference.

GBP/CAD has appreciated some 1.43% since our call last Friday. This Weekly GBP/CAD chart below shows us that the cross has not been this strong since 2011 or 2010. The red horizontal line has been added for historical emphasis.

In our spotlight on the British Pound published yesterday, we noted GBP is circling major post-Plaza Accord technical levels. We’re not ruling out a move higher in GBP/CAD to a 1.65 handle.

Oh, by the way, that is indeed a “14” on the bottom of our charts. Let’s hope the Mayans weren’t a year early with their predictions, because our TradeMarkets indices have new trails to blaze.
GBP IndexCAD Index

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.