EUR/USD faces pressure as S&P 500 exhaustion signals risk-off shift

EUR/USD remained under pressure near 1.0780 as S&P 500 approached exhaustion levels, signaling potential risk-off sentiment that could strengthen the dollar. The index faces convergence of trade tensions and rising debt concerns, creating a challenging environment for risk assets. GBP/USD similarly struggled around 1.2650 as global equity markets showed signs of fatigue. The Nasdaq 100's technical indicators suggest overbought conditions, while the FTSE 100 faces resistance at key levels. This equity market exhaustion typically triggers flows into safe-haven currencies, with the dollar benefiting from its reserve currency status despite domestic challenges. Traders are monitoring support at 1.0750 for EUR/USD, with a break below potentially accelerating losses toward 1.0700. The combination of equity market concerns and geopolitical risks suggests continued pressure on risk-sensitive currency pairs in the near term.