The GBP/CAD pair is testing a major technical support level at 1.80, with UK January GDP and Canada's February employment data set for release. On March 18, the Bank of Canada held its interest rate at 2.25%, citing downside growth risks. Markets reacted negatively due to the ongoing war in Iran, impacting UK gas prices. On March 19, the Bank of England surprised markets by keeping the rate unchanged at 3.75%, pushing rate cut expectations further into 2026.
