The British pound weakened against most major currencies in the early European session on Tuesday.

The pound fell to 1.2517 against the U.S. dollar, from an early 5-day high of 1.2547.

Against the euro and the Swiss franc, the pound dropped to 0.8449 and 1.2581 from early highs of 0.8450 and 1.2605, respectively.

If the pound extends its downtrend, it is likely to find support around 1.23 against the greenback, 0.88 against the euro and 1.23 against the franc.

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