18.07.201704:47:00UTC+00Pound Extends Drop Against Majors

The British pound continued to be weak against other major currencies in the early European session on Tuesday.

The pound fell to a 4-day low of 1.3019 against the U.S. dollar, from an early 10-month high of 1.3125.

The pound dropped to a 4-day low of 146.18 against the yen, from an early high of 147.32.

Against the euro and the Swiss franc, the pound slipped to 5-day lows of 0.8849 and 1.2465 from early highs of 0.8781 and 1.2582, respectively.

If the pound extends its downtrend, it is likely to find support around 1.28 against the greenback, 142.00 against the yen, 0.89 against the euro and 1.23 against the franc.