The pound retreated from early highs against its major counterparts in pre-European trading on Friday.

The pound pared gains to 1.2562 against the greenback, 1.2763 against the franc and 143.71 against the yen, from its early highs of 1.2596, 1.2806 and 144.13, respectively.

The pound retreated from an early 3-day high of 0.8417 versus the euro, edging lower to 0.8457.

The pound may find support around 1.235 against the greenback, 140.5 against the yen, 1.22 against the franc and 0.86 against the euro.

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