Pound Falls Against Majors

The British pound weakened against the other major currencies in the early European session on Wednesday.

The pound fell to a 1-week low of 0.7057 against the euro and a 5-day low of 1.5435 against the Swiss franc, from early highs of 0.7040 and 1.5485, respectively.

Against the U.S. dollar and the yen, the pound dropped to 1.5057 and 185.35 from early highs of 1.5082 and 185.54, respectively.

If the pound extends its downtrend, it is likely to find support around 0.71 against the euro, 1.53 against the franc, 1.49 against the greenback and 184.00 against the yen.

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