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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

GBP/USD Price Analysis: Dollar Bulls Defend the 20-EMA, with 1.3000 in Sight

Drake Hampton

Apr 07, 2022 10:16

  • Failure to break above the 20-EMA will exacerbate the suffering for sterling bulls.

  • The RSI has fallen below 40.00, indicating that there is no hint of divergence and an oversold condition.

  • A location beneath the symmetrical triangle will generate substantial proposals for the cable.

 

After three tumultuous trading days in April, the GBP/USD pair has sensed selling pressure to roughly 1.3167. The pound bulls have been stymied by the 20-period Exponential Moving Average (EMA) around 1.3095.

 

On a four-hour time scale, the cable has settled itself comfortably beneath the symmetrical triangular formation. This will result in significant volume growth for the asset in the future. The chart pattern's top boundary is represented by the March 25 high of 1.3225, while the lower boundary is marked by the March 15 low of 1.3000.

 

 

At 1.3114, the 50-EMA is scaling lower, adding to the downside filters. Additionally, the Relative Strength Index (RSI) (14) has fallen below 40.00, indicating that additional suffering is imminent. The RSI is not indicating divergence or an oversold condition.

 

A break below Tuesday's low of 1.3067 will bolster greenback bulls, and the pair may fall to the March 16 low of 1.3036, followed by psychological support around 1.3000.

 

On the other hand, the asset will march toward Tuesday's high of 1.3167 after breaching the 50-EMA at 1.3114. If the latter is breached, the asset will be pushed towards the round level resistance at 1.3200.

Four-hour chart of the GBP/USD

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