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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