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 Again, the green horizontal line has been added for historical reference.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.
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GBP/CAD Long Validated
Published 08/21/2013, 11:33 AM
Updated 07/09/2023, 06:31 AM
GBP/CAD Long Validated
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