The Pound Sterling continues to move under pressure in anticipation of increasing movement restrictions in the United Kingdom (UK).
UK Prime Minister Boris Johnson is considering measures for stricter sanctions as they see the latest wave approaching.
With the pandemic crisis still raging, UK Finance Minister Rishi Sunak will extend its business support loan program to further support economic activity.
Moreover, the Brexit deal remains one of the factors that worries investors.
The price movement for the GBP / USD pair moved horizontally in the range of 1.30000-1.29000 last week with both currencies at risk.
The weakening US dollar against the market is still holding the price down.
However, it is likely that the price will not be able to last longer and with the expectation that the Pound will remain weak, the price may fall lower past the RBS zone (resistance become support) below 1.29000.
The next decline will lead to the support zone at 1.27600 which was hit by the price of trading 2 weeks ago before the price made a rise again.
However, if this week the US dollar experiences a more significant sell-off, the price is likely to make an increase above the resistance level of 1.30000 which is also seen in the SBR zone (support become resistance).
A higher rise will lead to the next SBR zone around the 1.32000 level.
