29.01.201806:40:00UTC+00Pound Slides Against Majors

Reversing direction, the pound dropped against its major counterparts in the European session on Monday.

The pound hit a weekly low of 0.8815 versus the euro and a 5-day low of 1.4064 against the dollar, down from its early highs of 0.8771 and 1.4158, respectively.

The pound slid to near a 2-week low of 152.95 against the yen and near a 4-week low of 1.3166 against the franc, off its previous highs of 154.02 and 1.3257, respectively.

The next possible support for the pound is seen around 1.38 against the dollar, 151.00 against the yen, 1.30 against the franc and 0.90 versus the euro.