EUR/USD, GBP/USD Face Pressure as Fed Rate Cut Timing Questioned

Major forex pairs show mixed signals as markets debate whether the Federal Reserve is falling behind the curve on rate cuts. EUR/USD continues to face selling pressure near 1.0600 resistance, while GBP/USD struggles to maintain momentum above 1.2650. USD/JPY remains elevated near 156.00, supported by persistent dollar strength and yield differentials. S&P 500 futures indicate cautious optimism, but currency markets reflect underlying concerns about monetary policy timing. Technical analysis suggests EUR/USD needs to clear 1.0620 to challenge higher levels, with support at 1.0550. GBP/USD faces resistance at 1.2700 with downside risk toward 1.2600. The coming week features key economic data releases that could shift sentiment, particularly US retail sales and UK inflation figures which may influence central bank expectations.