16.08.201705:18:00UTC+00Pound Rises Against Majors

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

The pound rose to 0.9082 against the euro and 1.2901 against the Swiss franc, from an early 10-month low of 0.9143 and a 5-week low of 1.2842, respectively. Against the yen and the Swiss franc, the pound edged up to 143.09 and 1.2582 from early lows of 142.23 and 1.2498, respectively.

If the pound extends its uptrend, it is likely to find resistance around 0.89 against the euro, 1.31 against the greenback, 145.00 against the yen and 1.27 against the franc.