The pound strengthened against its major opponents in early European deals on Wednesday.

The pound advanced to a 5-day high of 1.2989 against the dollar and more than a 2-month high of 0.8747 versus the euro, from its early lows of 1.2942 and 0.8782, respectively.

The pound climbed to 142.36 against the yen, its strongest level since December 19. This may be compared to a low of 141.61 hit at 5:30 pm ET.

The pound appreciated to 1.2958 against the franc, its highest level since November 15. This follows a low of 1.2907 seen at 5:30 pm ET.

The pound is likely to find resistance around 1.32 against the dollar, 0.86 versus the euro, 144.00 against the yen and 1.31 against the franc.

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