2016.09.2805:08:00UTC+00Pound Retreats Against Majors

The British pound retreated from recent highs against the other major currencies in the early European session on Wednesday.

The pound fell to 1.2981 against the U.S. dollar, 1.2609 against the Swiss franc and 0.8639 against the euro, from recent 5-day highs of 1.3030, 1.2673 and 0.8589, respectively.

Against the yen, the pound dropped to 130.82 from a recent high of 131.18.

If the pound extends its downtrend, it is likely to find support around 1.28 against the greenback, 1.24 against the franc, 0.87 against the euro and 129.00 against the yen.