Reversing direction, the pound fell against its major counterparts in European trading on Monday.

The pound slid to a weekly low of 1.3081 against the greenback, following a high of 1.3139 at 7:15 pm ET.

The pound retreated to 1.2791 against the franc, 0.8549 against the euro and 133.59 against the yen, from its early high of 1.2847, 4-day high of 0.8513 and near a 4-week high of 134.39, respectively.

The next possible support for the pound may be found around 1.28 against the greenback, 1.25 against the franc, 130.00 against the yen and 0.88 against the euro.

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