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Pound Retreats Against Majors

Pound Retreats Against Majors

The pound erased its early gains against its major opponents in the European session on Thursday.

The pound retreated to 1.2883 against the franc and 141.25 against the yen, from its early more than 6-month highs of 1.2940 and 141.86, respectively.

The pound pulled back to 0.8530 against the euro and 1.2900 against the greenback, off its early 6-1/2-month high of 0.8499 and a 1-week high of 1.2950, respectively.

The next possible support for the pound is seen around 1.27 against the greenback, 0.88 against the euro, 1.26 against the franc and 138.00 against the yen.

The material has been provided by InstaForex Company – www.instaforex.com