Pound corrects below 1.3100 ahead of FOMC

GBP/USD is starting 2020 by retracing down rejecting the 1.3300 handle. As the market seems to create a lower high, the correction down could extend towards the 1.3000 and 1.2900 handles. The FOMC at 19:00 GMT can lead to high volatility in USD-related currency pairs.