Like a rubber band when attempting to change the location of the portal it simply snaps back to original location of the portal. Just like a rubber band . .. . unable to press submit and or drag it anywhere . .
There is now a limit of 10m for portal moves. You can request larger moves via this form: http://bit.ly/LocationUpdateRequest
See this post on the Wayfarer forums: https://community.wayfarer.nianticlabs.com/discussion/7174/process-change-requesting-location-edits-10m