Pound Falls Against Majors
The pound weakened against its major rivals during the European session on Monday.
The pound depreciated to 4-day lows of 1.3474 versus the greenback and 0.9056 versus the euro, after rising to 1.3576 and 0.8986, respectively in early deals.
The pound reversed from its early highs of 140.57 against the yen and 1.2076 against the franc and dropped to 139.65 and 1.2003, respectively.
The currency is likely to target support around 1.31 versus the greenback, 0.92 versus the euro, 138.00 against the yen and 1.18 against the franc.
The material has been provided by InstaForex Company – www.instaforex.com