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The British pound sterling is holding on to the gains from last Friday. Price held firmly above the 1.3000 level of support.

This came even as British PM Johnson announced a new three-tier restriction to battle the second wave of the Coronavirus.

With the 1.3000 level now likely to act as support, the cable will likely continue to rise higher. The next key challenge will be the 1.3128 region.

Given that this level was not tested for resistance, we could see a pullback.

Alternately, a close above this resistance area could see the pound sterling aiming for 1.3300 next.

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