Sterling extended a three-day decline against the US Dollar on Tuesday, slipping 0.14% as the Greenback edged higher ahead of the Federal Reserve’s monetary policy decision due on Wednesday. The move kept the GBP/USD pair under pressure after recent selling.
GBP/USD Trading Range
At the time of writing, GBP/USD was trading at 1.3321, remaining capped within a 1.3307 to 1.3349 range.
Market Positioning Ahead of Fed Decision
Markets are positioning for near-term direction from the Fed decision, with price action contained despite the latest dip.