The price movement on the GBP / USD pair chart has seen the price plunge 200 pips in the Asian session after climbing to the previous 1.31400 high.
The movement is opposite the bullish pattern displayed on Tuesday's trading with the daily rise recorded around 160 pips.
In this morning's Asian session, it can be seen that the price plunged 200 pips in 3 hours starting at 8 am (local time) until re-testing the Moving Average 50 (MA50) support level on the movement in the 1 hour time frame.
But as of 11.30 am, the price movement started to slow down and hover around the focus level of 1.3000.
Price movements are still driven by voting results during the US presidential election with the expectation that volatile movements will continue until the next session.
The results change with the slight change in the number of votes changing investors making the expectation of who will win the election to take office as the new President of the United States.
It is difficult to predict price movements in the near future with various unexpected patterns occurring.
Focus on the support zone of 1.29000 up to the support of 1.27600 if the price remains low.
While the soaring price increase will be the resistance level of 1.32000 next to 1.33000 as a focal destination.
