17.01.202409:10:00UTC+00Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Wednesday.

The pound rose to more than a 1-month high of 0.8578 against the euro and more than a 1-1/2-month high of 187.33 against the yen, from early lows of 0.8619 and 185.88, respectively.

Against the Swiss franc, the pound climbed to nearly a 1-month high of 1.0934 from an early high of 1.0869.

Moving away from an early more than a 1-month low of 1.2597 against the U.S. dollar, the pound edged up to 1.2677.

If the pound extends its uptrend, it is likely to find resistance around 0.84 against the euro, 189.00 against the yen, 1.10 against the franc and 1.28 against the greenback.