The Great Britain pound versus the Canadian dollar currency pair dropped after a new attempt to conquer 1.7567 seems to have failed.
Great Britain Pound GBP
Detailed information and fundamental factors
Central Bank: Bank of England
Interest Rate: 0.10%
Public Debt to GDP Ratio, 2017: 90.4%
Trade Balance, 2018: -$41.3 bln.
Inflation, 2019: 1.7%
Supporting Factors
Global reserve currency
medium
Currency of international trade
weak
Factors of Weakness
United Kingdom's exit from the European Union
strong
The Great Britain pound sterling (usually called simply “pound” or “sterling”) is the currency used in the United Kingdom and in British territories. Banknotes were introduced following the creation of the Bank of England in 1694, but the history of the currency can be traced long before that, making the pound the oldest world currency that is still in use. The sterling was the most important currency in the world before the World War I. After the World War II had broken out, several countries (for the most part those that belonged to the British Empire) either introduced the pound as their own currency, or pegged their currencies to the sterling. These countries have become know as the sterling area. The importance of the UK currency and the sterling was diminished after the pound was allowed to float freely in 1972. Subsequently, the role of the major world medium of exchange passed to the US dollar. It is still the fourth most traded currency after the dollar, the euro and the yen. The pound is also used as a reserve currency.
Great Britain Pound News Archive
Bulls on GBP/CAD Stopped by the Same 1.7565 Resistance Level?
August 6, 2020 at 7:29 Canadian Dollar, Great Britain Pound, Technical Analysis
Sterling Gets Help from Strong Rebound in Services, Rally of Stocks
August 5, 2020 at 18:31 Great Britain Pound
The Great Britain pound demonstrated a decent performance during Wednesday’s trading session, even though it was not among the strongest currencies on the Forex market. The sterling got support from the strong rebound of the UK service industry as well as a rally of British stocks.
Will the 1.3000 Support on GBP/USD Hold?
August 4, 2020 at 7:42 Great Britain Pound, Technical Analysis, US Dollar
The Great Britain pound versus the US dollar currency pair seems to be in a mixed-mode. But is it really so?
Bullish Determination Sent GBP/CAD Above 1.7285
July 30, 2020 at 5:37 Canadian Dollar, Great Britain Pound, Technical Analysis
The Great Britain pound versus the Canadian dollar currency pair printed a strong rally. Could the bears invalidate it?
Sterling Inches Higher Against the Dollar on Sentiment, Fed Decision
July 29, 2020 at 19:55 Great Britain Pound
The Sterling pound today inched higher against the US dollar for the ninth consecutive session as investors remained worried about the rising coronavirus cases in the US. The GBP/USD currency pair today broke out of an initial trading range during the Asian session and headed higher boosted by positive UK releases.
GBP/USD Passes 1.2818 High and on Its Way to 1.3000
July 28, 2020 at 1:56 Great Britain Pound, Technical Analysis, US Dollar
The Great Britain pound versus the United States dollar currency pair continues the movement towards the north. Are the bears anywhere near?
Sterling Range-Bound Despite Upbeat UK Retail Sales and PMI Data
July 24, 2020 at 12:22 Great Britain Pound
The Sterling pound today traded sideways against the US dollar despite the release of multiple positive macro prints from the UK docket in the London session. The GBP/USD currency pair traded in a tight range as investors worried about the prospect of a no-deal Brexit and the high chance of the second wave of coronavirus infections.
GBP/CAD Undecided Around 1.7100 Area
July 23, 2020 at 6:54 Canadian Dollar, Great Britain Pound, Technical Analysis
The Great Britain pound versus the Canadian dollar currency pair seems to have trouble continuing the appreciation. Is this only a pause from the bulls or the bears are preparing their next movement?
Sterling Pound Falls on Brexit Jitters, Later Rallies on Reassurances
July 22, 2020 at 19:09 Great Britain Pound
The sterling pound today alternated between losses and gains against the US dollar driven mostly by market sentiment given the empty UK dockets. The GBP/USD currency pair later rallied after the British government confirmed that it was committed to sealing a post-Brexit trade deal with the EU.
First Stop for the Bulls at 1.2777 on GBP/USD?
July 21, 2020 at 7:22 Great Britain Pound, Technical Analysis, US Dollar
The Great Britain pound versus the US dollar managed to confirm 1.2514 as support and start a departure from it. Is 1.2777 a possible turning point?