The GBP/CAD currency pair, which expresses the value of the British pound sterling in terms of the Canadian dollar, has managed to continue to fend off long-term lows over the past few years. However, in spite of Brexit (the U.K.’s decision to leave the European Union, which was announced on 23 June 2016), GBP/CAD has in fact managed to continue to trade above the lows of 2010 to 2013.

The long-term monthly candlestick chart below illustrates price action from as early as January 1975. Two levels are highlighted: 1.60 and 1.50. GBP has managed to safely avoid the 1.50 handle since the announcement of Brexit, although current prices above the 1.70 handle are still a far cry from the highs above 2.00 in the latter half of 2015 (and early part of 2016).

(Source: TradingView. The same applies to all subsequent candlestick charts presented hereafter.)

If we focus