With the amount of issues going on in the UK, it is interesting to see how price is still trading above the 1.50 level and pushing higher. Price dropped considerably over a month ago when Glits started selling off quickly, but recovered just as fast as the BOE sprang into action. But now, with the BOE saying that the UK is in a recession and the people of UK need to brace themselves for the longest recession in 100 years, when will price start retracing. With the new prime minister looking to do the opposite of what the former prime minister wanted to implement, it is still concerning that this will allow the GBPCAD to keep pushing higher. The new prime minister is looking to increase taxes and cut government spending, which might assist with reducing inflation but could also hit the economy hard. With the BOE and the UK Government in correlation to fighting inflation, a steep recession is in play and traders and investors will likely start selling the Pound for a more safer currency.