GBP/USD holds near 1.3240 after UK Parliament votes to delay Brexit

Pound remains quiet after another round of Brexit votes.
UK Parliament voted 412 to 202 to delay Brexit.

Matías Salord FXStreet

The GBP/USD pair ignored the votes at the UK Parliament that came in as expected. Cable remains steady, consolidating around 1.3250, down for the day.

The pound is retreating after posting yesterday the highest daily close since June. The correction from the top has been limited by the 1.3200 area.

The UK Parliament rejected all voted amendments and passed the main motion presented by the government to seek delay of Brexit. Now, the government has to ask for it to the European Union that must agree before the deadline of March 29.

After the vote, Jeremy Corbyn, Leader of the Labour Party, reiterated the support of his party for a public vote on Brexit. Today they abstain in the vote of the amendment calling for a new referendum.

GBP/USD Short-term levels to watch

To the downside the immediate strong support is located around 1.3205 (Mar 14 low), followed by 1.3145 and 1.3100. On the upside, resistance levels might lie at 1.3285/90 (US session high), 1.3320 and 1.3350 (Feb 27 high).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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