19.03.201909:29 Forex Analysis & Reviews: Brexit: The British Parliament blocked a re-vote on Brexit

The likelihood of a re-vote on the adoption of an agreement on Brexit sharply decreased after last night, House of Commons speaker John Bercow blocked an attempt by the UK government. The British pound fell sharply against the background of this news, but then slightly regained its position.

Bercow said that the grounds for the next vote are necessary, as well as actions from Theresa May, aimed at agreeing with the European partners on substantial changes in the Brexit agreement. However, as we remember, quite recently, the EU declared that their decision is final and not subject to change. New meetings on this issue are also no longer scheduled. This development increases the likelihood that the UK will have to ask the EU to extend the exit dates. Negotiations can take place by this Thursday, within the framework of the EU summit.

Most likely, Theresa May did not expect such a decision from the speaker, so no statements on this matter were made by her as of the moment. The blocking of the vote will definitely not allow the British prime minister to get the approval of her Brexit plan from MPs.

As for the technical picture of the GBPUSD pair, a large range for opening short positions can be traced around 1.3295-1.3330, where sellers will show themselves in the market. In the event that the pound declines, a similar support range is located in the area of 1.3180-1.3220. We managed to make sure of this yesterday when trying to sell the British pound following the news about the blocking of the vote.

Yesterday, the euro slightly rose against the US dollar after news that exports of goods from the eurozone in January this year grew for the second month in a row, which indicates a possible stabilization of the economy after a serious slowdown in late 2018.

According to the data, in January, exports of goods from the eurozone grew by 0.8% and exceeded imports by 1.5 billion euros. Imports showed an increase of 0.3%. The surplus was 17 billion euros against 16 billion euros in December.

Given that yesterday was not filled with fundamental statistics, investors drew attention to the report on the mood of housing builders in the United States, which helped the US dollar to return some of the positions against the background of market stabilization after declining for two consecutive months.

According to the National Association of Home Builders NAHB, the housing market index remained unchanged in March 2019 compared with the previous month, at around 62 points, while economists had forecast that the index would be 63 points. The association said that the number of builders reporting good sales has increased, which is a positive signal for the US housing market.

As for the technical picture of the EURUSD pair, the demand for the euro may gradually decrease before the meeting of the Federal Reserve System, the results of which will be announced tomorrow. An unsuccessful attempt to update yesterday's highs will indicate the completion of a short-term upward correction, which may lead to the trading instrument's fall to the support area of 1.1335, a breakthrough of which will lead to a larger sale of risky assets to the low of 1.1300 and 1.1250.