A break above USD 2,650 could push prices towards USD 2,678.56, indicating further bullish momentum.
However, failure to hold above USD 2,629 could trigger a pullback targeting USD 2,608 and USD 2,589.
Sterling weakens as CBI revenue falls; Eyes on US data
The British Pound (GBP) faced pressure after CBI Realized Sales fell to -18 in November, missing the forecast of -14 and falling sharply from October’s -6.
The BRC Shop Price Index showed a smaller than expected annual decline of -0.6%, indicating that pressure on retail prices is easing.
With no UK-specific events on the horizon, the pound’s trajectory will depend on broader US economic data, including the Core PCE Price Index and GDP updates, as markets assess global economic momentum.