Reversing direction, the pound dropped against the other major currencies in European deals on Monday.

The pound edged down to 1.3100 against the dollar, 1.2921 versus the franc, 0.8383 against the euro and 138.99 versus the yen, from its early highs of 1.3164, 1.3003, 0.8337 and 140.12, respectively.

If the pound declines further, it may find support around 1.30 against the greenback, 1.28 against the franc, 0.85 against the euro and 138.00 against the yen.

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