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Pound Recovers Against Majors

The pound came off from its early lows against its major counterparts in the European session on Wednesday.

The pound advanced to 144.90 against the yen and 1.2956 against the dollar, from its early more than a 3-week low of 144.40 and more than a 2-month low of 1.2915, respectively.

The pound reversed from its early low of 0.8679 against the euro, rising to 0.8651.

The pound recovered to 1.3197 against the franc, from an early 6-day low of 1.3159.

The next possible resistance for the pound is seen around 147.00 against the yen, 1.32 against the dollar, 0.85 against the euro and 1.33 against the franc.

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