Pound Slides Against Majors

The pound lost ground against its major rivals in European deals on Tuesday.

The pound slid to a weekly low of 0.7391 against the euro, more than 8-month low of 178.71 against the yen and a 6-day low of 1.4840 against the greenback, from its early highs of 0.7352, 179.55 and 1.4913,respectively.

Pulling away from an early high of 1.4746 against the Swiss franc, the pound weakened to a 5-day low of 1.4667.

The pound is likely to find support around 0.745 against the euro, 176.00 against the yen, 1.46 against the greenback and 1.45 against the franc.

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