The pound pulled back from its early highs against its most major counterparts in the European session on Monday.
The pound eased to 1.2475 against the greenback, from near a 5-week high of 1.2537 hit at 3:15 am ET.
The pound retreated to 1.2057 against the franc, reversing from a 4-day high of 1.2091 seen at 4:45 am ET. This may be compared to a session’s low of 1.2019 logged in the Asian session.
The pound fell back to 134.65 against the yen, heading to pierce a 5-day low of 134.51 recorded in the Asian session. This may be compared to a high of 135.22 set at 6:00 pm ET.
The pound is seen facing support around 1.23 against the greenback, 1.175 against the franc and 132.00 against the yen.
The material has been provided by InstaForex Company – www.instaforex.com