Pound strengthens against Major Currencies

On Friday’s European session, the British pound gained ground against other leading currencies. It climbed to a more than 3-year high of 1.3502 versus the U.S. dollar, recovering from an early low of 1.3419.

Similarly, the pound reached a 3-day high of 1.1156 against the Swiss franc, up from an earlier level of 1.1107.

In its performance against the Japanese yen and the euro, the pound made modest gains, touching 193.50 and 0.8406 respectively, compared to initial lows of 192.82 and 0.8419.

If the upward trend continues, the pound may face resistance at around 1.36 against the U.S. dollar, 1.12 against the Swiss franc, 196.00 against the yen, and 0.82 against the euro.