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GBP/USD edges lower after opening at a bullish gap, remaining within positive territory and trading around 1.3290 during the Asian hours on Tuesday. The currency pair is under pressure as the US Dollar (USD) stabilizes, driven by market caution ahead of the upcoming Federal Reserve policy decision due on Wednesday.
EUR/USD is consolidating near the monthly trough, trading near mid-1.1300s in the European morning on Tuesday, undermined by persistent US Dollar demand. Traders seem hesitant and await the outcome of a two-day FOMC policy meeting before placing aggressive directional bets.
Gold maintains its offered tone through the Asian session on Tuesday and currently trades just below $4,050, down 0.85% for the day. This follows the previous day's failure to find acceptance above the $4,100 mark and suggests that the path of least resistance for the bullion remains to the downside.
Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.
