FX.co ★ Pound Slides Against Majors

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

The pound fell to nearly a 4-month low of 1.2334 against the U.S. dollar and a 6-week low of 182.46 against the yen, from early highs of 1.2397 and 183.30, respectively.

Against the euro and the Swiss franc, the pound slid to nearly a 6-week low of 0.8659 and nearly a 7-week low of 1.1071 from early highs of 0.8618 and 1.1128, respectively.

If the pound extends its downtrend, it is likely to find support around 1.21 against the greenback, 181.00 against the yen, 0.87 against the euro and 1.09 against the franc.