sTrictly speaking the answer is no @Yer124 .
you needed to cancel your request first, THEN make another booking.
It also depends how far into the future your booking is adn what the hosts cancellation policy is. If it's well into the future, - more than a fortnight - you shoudl be able to cancel within the next 48 hour immediately after the booking with no penalty. If it's sooner it will depend on the hosts cancellation policy. if either of them have a flexible or moderate cancellation policy things will be easier. Have you looked at both these elements of your bookings? You do have to indicate that you have read and understood these factors before you proceed to request to book or book.
If you are outside the window of free cancellation then try ringing customer service to plead your case - they may take pity on you and let you off.
Bear in mind though that you will probably have inconvenienced a host even if you are let off and it's not particularly good form.