Major FX Breakouts Expected as EUR/USD, GBP/USD Test Key Levels

Foreign exchange markets are positioning for significant breakouts as major pairs approach critical technical junctures. EUR/USD coils near 1.0550, with a potential move toward 1.0650 if resistance at 1.0580 breaks, while failure could see a test of 1.0500 support. GBP/USD shows similar compression near 1.2650, with traders watching for a decisive move above 1.2700 or below 1.2600. USD/JPY maintains its uptrend above 156.00, targeting 157.50 as the next resistance level. USD/CHF consolidation near 0.8850 suggests an imminent directional move, with 0.8900 and 0.8800 as key levels. Volatility indicators suggest increased movement probability within the next 48-72 hours, driven by upcoming economic data and central bank communications that could trigger the anticipated breakouts.