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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.
The EUR/USD pair is seen consolidating near the monthly trough and trading just above mid-1.1300s during the Asian session on Tuesday. Traders seem hesitant and await the outcome of a two-day FOMC policy meeting before placing aggressive directional bets.
Gold is challenging the $4,050 level early Tuesday, extending the pullback from above $4,100, as sellers remain in control ahead of the two-day US Federal Reserve monetary policy meeting, starting later in the day. Gold is in the red for the second consecutive day so far this Tuesday, undermined by the recent demand for the US Dollar.
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.
