FX.co ★ Pound Slides Against Majors

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

The pound fell to a 3-month low of 1.2441 against the U.S. dollar, from an early high of 1.2502.

Against the euro and the Swiss franc, the pound dropped to a 1-month low of 0.8630 and a 2-week low of 1.1098 from early highs of 0.8602 and 1.1142, respectively.

Moving away from an early 2-day high of 184.25 against the yen, the pound edged down to 183.20.

If the pound extends its downtrend, it is likely to find support around 1.23 against the greenback, 0.87 against the euro, 1.09 against the franc and 175.00 against the yen.