A bicycle pedal assembly includes a pedal and a cleat. The pedal includes a pedal body that rotates about a shaft and front and rear clamping members coupled to opposite ends of the pedal body. The cleat has front and rear attachment portions that are selectively engageable with the pedal via the front and rear clamping members. The pedal and the cleat are configured to form a laterally shiftable floating pivot axis such that the bicycle shoe cleat pivots and laterally shifts about the floating pivot axis relative to the pedal body through predetermined ranges of pivotal and lateral movements without releasing the bicycle shoe cleat from the bicycle pedal.