Major players are showing impressive movements, and our GBPUSD is no exception. Yesterday's surge towards 1.3200, today - a retracement back to initial positions. I believe this is not the limit for today's movement. In about an hour, J. Powell will speak, which could also lead to volatility. A chart pattern is forming, with a potential stop around 1.2950. Personally, I was expecting a decline, but was considering the possibility of at least reaching 1.3000. Currently, the pair has already touched 1.2934. The 1.2950 level has been acting as resistance for the whole month, but it might now turn into support for a continuation of the uptrend. I am monitoring the movement, a 200-point drop for the pair is not the limit yet.
