Pound Rises Against Majors

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

The pound rose to nearly a 2-week high of 162.28 against the yen and a 1-week high of 0.7839 against the euro, from early lows of 161.34 and 0.7872, respectively.

Against the U.S. dollar and the Swiss franc, the pound edged up to 1.4264 and 1.3903 from early lows of 1.4195 and 1.3842, respectively.

If the pound extends its uptrend, it is likely to find resistance around 166.00 against the yen, 0.77 against the euro, 1.45 against the greenback and 1.42 against the franc.

The material has been provided by InstaForex Company – www.instaforex.com