The pound drifted lower against its major counterparts in the European session on Thursday.

The pound moved down to near a 5-week low of 0.8705 against the euro, 1-week low of 179.79 against the yen and more than a 1-year low of 1.0674 against the franc, off its early highs of 0.8669, 181.38 and 1.0796, respectively.

The pound fell to 1.2755 against the greenback, after rising to near a 5-month high of 1.2827 in the previous session.

The currency may possibly face support around 0.88 against the euro, 174.00 against the yen, 1.05 against the franc and 1.24 against the greenback.

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