Pound Downturn Against Key Currencies

On Tuesday's early European session, the British pound lost ground against major international currencies.

The currency slid to a one-week low of 0.8450 against the euro and dipped to an eight-day low of 1.3483 versus the U.S. dollar, down from session highs of 0.8418 and 1.3565, respectively.

Meanwhile, the pound also fell against the Swiss franc and Japanese yen – reaching a five-day low of 1.1089 against the franc and a four-day low of 194.91 against the yen. Earlier, it had hit a high of 1.1146 and around a four-week high of 196.45, respectively.

If the downtrend continues, analysts expect the pound to find support near 0.85 versus the euro, 1.33 against the U.S. dollar, 1.09 when measured against the Swiss franc, and 192.00 against the yen.