{"id":23656,"date":"2026-03-16T09:27:15","date_gmt":"2026-03-16T09:27:15","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=23656"},"modified":"2026-03-16T09:27:16","modified_gmt":"2026-03-16T09:27:16","slug":"eurusd-gbpusd-march-2026","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/opening-bell\/eurusd-gbpusd-march-2026\/","title":{"rendered":"Euro Is Quietly Losing Strength Against the British Pound"},"content":{"rendered":"\n

In currency markets, the euro has started to weaken while the US dollar shows signs of stabilising.<\/p>\n\n\n\n

For traders experiencing their first oil shock, this sudden dollar strength can come as a surprise. However, global oil trade is still largely priced in US dollars, meaning rising energy demand often translates into stronger demand for the currency.<\/p>\n\n\n\n

Oil prices have surged following tensions around the Strait of Hormuz, increasing pressure on energy-importing economies.<\/p>\n\n\n\n

So this weakening price action on EURUSD and even GBPUSD is largely expected under these conditions.<\/p>\n\n\n\n

EURUSD Breaks Rising Channel<\/strong><\/h2>\n\n\n\n
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The EURUSD weekly chart shows the pair breaking below the rising channel that had supported the euro\u2019s recovery through 2025.<\/p>\n\n\n\n

After several tests of the lower boundary, price is now slipping toward an important support area.<\/p>\n\n\n\n

The first level to watch sits around 1.137, where the anchored VWAP<\/a> from the 2025 lows comes into play. Just below that sits a broader structural support zone between 1.12 and 1.13, an area that previously acted as resistance before the euro\u2019s breakout last year.<\/p>\n\n\n\n

If EURUSD can hold this region, the pair may begin to stabilise and consolidate.<\/p>\n\n\n\n

In that scenario, the euro could attempt a rebound toward 1.16, with a potential retest of the higher anchored VWAP around 1.174 if bullish momentum returns.<\/p>\n\n\n\n

However, a sustained break below the 1.12\u20131.13 support zone would signal that the euro is losing a much larger structural support level. <\/p>\n\n\n\n

GBPUSD Is Also Starting to Stall<\/strong><\/h2>\n\n\n\n
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The GBPUSD weekly chart is showing a similar loss of momentum as the dollar strengthens.<\/p>\n\n\n\n

After rallying strongly throughout 2025, the pair has started to stall near the 1.324 region, where upside momentum has been slowing down (notice the bearish divergence)<\/a>.<\/p>\n\n\n\n

Price is now sitting right on an anchored vWAP support at 1.324, which it briefly lost in November 2025 but reclaimed for more upside.<\/p>\n\n\n\n

If price can hold this level, GBPUSD could see a slight recovery first before more downside.<\/p>\n\n\n\n

A lower anchored vWAP support, marked from the 2022 lows, aligns perfectly at 1.277 and the 61.8% Fibonacci retracement<\/a>.<\/p>\n\n\n\n

EURGBP Signals Euro Specific Weakness<\/strong><\/h2>\n\n\n\n
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EURGBP may be staging a head and shoulders<\/a> pattern, and there is visible trendline break. This suggests the euro may be weakening not just against the dollar but also relative to the British Pound.<\/p>\n\n\n\n

Several fundamental factors help explain why sterling has recently held up better.<\/p>\n\n\n\n

Energy exposure<\/strong><\/p>\n\n\n\n