GBP/USD Current Price: 1.3226

  • UK Parliament rejected a second Brexit referendum, taking control out of government.
  • More votes scheduled now for March 20 to define the extent of the delay.

It was another day of high volatility around Pound crosses, as Brexit headlines kept bombarding news feeds. The GBP/USD pair traded as high as 1.3335, now ending the day close to the 1.3200 figure, following the Parliamentary vote on a series of Brexit amendments. The government avoided losing control of negotiations and a second referendum, both voted down. The main motion in delaying Brexit was approved by 412 to 202 votes, with the Parliament now meeting again next March 20, when the US Federal Reserve will also unveil its latest monetary policy decision. If PM May's deal is approved before that date, then Brexit should be extended until the end of June. If not, then the extension will be in the EU's hands. Right after the result, an EU spokesman said Negotiator Juncker would contact leaders on Brexit and then consider the reasons and length of a possible Brexit delay. There are no macroeconomic releases scheduled in the UK this Friday.

The latest decline didn't affect much the positive tone of the pair, as in the 4 hours chart, is developing above a bullish 20 SMA, now at 1.3188 and providing an immediate dynamic support, while technical indicators hold within positive ground, the RSI heading south at around 53 and the Momentum lagging, maintaining the positive bias near daily highs. Extreme caution is recommended around GBP/USD, although the decline should extend on a break below the mentioned dynamic support.

Support levels: 1.3185 1.3150 1.3110

Resistance levels: 1.3250 1.3290 1.3325  

View Live Chart for the GBP/USD

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

AUD/USD: Upper end of the contracting triangle caps gains

AUD/USD's failed breakout is a cause of concern for the bulls. A move above the recent high of 0.66 is needed to revive the bullish outlook. The triangle was breached to the higher side last Wednesday. However, the bullish breakout was short-lived.


USD/JPY: Off intraday top, still above 107.00, as trade sentiment dwindles

USD/JPY steps back from the intraday top around 107.80. Hong Kong issue keeps the US and China at loggerheads. Japan readies another stimulus program, near to lift the state of emergency from Tokyo. 


Gold down by $6 in Asia, weekly chart shows bullish trend exhaustion

Gold, a safe-haven asset, is flashing red at press time even though the growth-linked currencies like the Aussie dollar are struggling to gain altitude. Technical charts indicate scope for deeper declines in the short-term.

Gold News

WTI regains $33.00, still below immediate support-turned-resistance

WTI recovers from an intraday low of $32.60. A two-week-old support-turned-resistance on buyers’ radars. Multiple supports will question the sellers below $31.80.

Oil News

EUR/USD: Bulls need an upbeat German IFO Expectations figure

EUR/USD dips as lingering US-China tensions bode well for the US dollar. Technical indicators suggest scope for a re-test of the lower end of the multi-week trading range. Deeper losses may remain elusive if the German IFO numbers beat estimates. 


Forex Majors