Pound suffered heavy swings over Britain's deal with European Union, which got finalized on Friday among British Prime Minister David Cameron and 27 other members of European Union. On announcement of the deal, On Friday, Pound just jumped up from its interim support area at 1.425 and reached as high as 1.44 against Dollar and closed at that.

However, one major over the weekend development, just turned the mood sour. Influential London Mayor Boris Johnson announced that he will be advocating and campaigning for Brexit. Similar to Cameron, Boris has strong ability to turn public mood. According to Mr. Boris, the deal hasn't reached his expectations and UK didn't get much from the deal. Though he praised the efforts by Mr. Cameron and his team.

Analysts are pointing out that this is Mr. Boris's big gambling to succeed Cameron as prime Minister. So, if voters do choose to stay out, Mr. Boris would be in excellent position to demand Mr. Cameron's step down and would be in best position to succeed him. Another clear front runner has been finance chief Mr. Osborne, who said will be campaigning in favor of stay.

Michel Gove, Justice Minister in Mr. Cameron's own cabinet has joined five other senior members, who would be campaigning in favor of an exit. They are being referred to as 'Gang of Six' by financial media.

Despite the deal, after math developments, took its toll over Pound, which is sliding down and currently trading at 1.421 against Dollar. Pound could easily derail to 1.38 against Dollar, if mood remains sour.