Reversing direction, the pound dropped against the U.S. dollar and the Swiss franc in European deals on Monday.
The pound edged down to 1.5522 against the greenback and 1.4996 against the franc, off its previous high of 1.5568 and a 4-day high of 1.5071, respectively. The pound is likely to find support around 1.54 against the greenback and 1.48 against the franc.
The material has been provided by InstaForex Company – www.instaforex.com