GBP/USD soars as UK Parliament blocks a no-deal Brexit
|- UK Parliament votes to reject a no-deal Brexit.
- Political uncertainty reins amid rumors of resignations from the UK cabinet.
- Cable spikes to 1.3277 and pulls back modestly.
The GBP/USD pair rose after the Brexit related votes at the UK Parliament. It reached a fresh daily high at 1.3280 and pulled back modestly. As of writing trades at 1.3250, up almost 200 pips for the day, despite all the political uncertainty.
Cable erased yesterday’s losses and is about to post the highest close in two weeks as it trades close to February highs. The pound remains strong in the market despite the political chaos in the UK.
The UK Parliament passed legislation to prevent the UK from making a Brexit without a deal. The House of Commons passes May’s backed motion (321 - 278) but previously also an alternative measure, the Spelman amendment (312 - 308), a defeat to May.
UK PM spoke after the votes and mentioned that the options remain the same as before, including a “damaging” second referendum. At the same time, the media is reporting of resignations at the cabinet.
Technical levels
GBP/USD
Overview:
Today Last Price: 1.3258
Today Daily change: 0.0183 pips
Today Daily change %: 1.40%
Today Daily Open: 1.3075
Trends:
Daily SMA20: 1.3082
Daily SMA50: 1.2986
Daily SMA100: 1.2885
Daily SMA200: 1.2984
Levels:
Previous Daily High: 1.329
Previous Daily Low: 1.3005
Previous Weekly High: 1.3269
Previous Weekly Low: 1.299
Previous Monthly High: 1.3351
Previous Monthly Low: 1.2773
Daily Fibonacci 38.2%: 1.3114
Daily Fibonacci 61.8%: 1.3181
Daily Pivot Point S1: 1.2957
Daily Pivot Point S2: 1.2838
Daily Pivot Point S3: 1.2671
Daily Pivot Point R1: 1.3242
Daily Pivot Point R2: 1.3409
Daily Pivot Point R3: 1.3527
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