25.10.201803:23:00UTC+00Pound Strengthens Against Majors

Reversing direction, the pound advanced against its major counterparts in early European deals on Thursday.

The pound rose to 1.2873 against the franc and 144.91 against the yen, from its early 3-week low of 1.2833 and a 1-1/2-month low of 144.10, respectively.

Having dropped to a 3-day low of 0.8857 against the euro at 1:15 am ET, the pound reversed direction and advanced to 0.8836.

The U.K. currency edged up to 1.2918 against the dollar, off its early low of 1.2874.

The pound is likely to find resistance around 146.00 against the yen, 0.86 against the euro and 1.31 against both the dollar and the franc.