**Pairs in Focus: 15th to 20th March 2026**
*Original analysis by DailyForex.com*
As the Forex market moves into the third week of March 2026, traders are keenly assessing a blend of technical signals and evolving macroeconomic backdrops. Several major and emerging currency pairs are at pivotal junctures, shaped by last week’s central bank communications, inflation metrics, and persistent geopolitical undertones. The following analysis delves into the fundamental drivers, technical setups, and salient price levels for the major pairs in focus this upcoming week, providing actionable insights for strategic positioning.
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## EUR/USD: Testing Post-ECB Range Highs
The euro-dollar pair has been in a moderate uptrend since the start of 2026, fueled by firm Eurozone PMIs and cautious optimism from the European Central Bank. Last week’s ECB meeting maintained the deposit rate at 4.00 percent, with President Lagarde reiterating a data-driven approach to any future policy adjustment. While U.S. CPI came in slightly above expectations, dollar strength waned amid rising conviction that the Federal Reserve would not hike further in the immediate term.
**Technical Outlook:**
– The pair has spent the past fortnight establishing a range between 1.0850 support and 1.0980 resistance.
– The 50-day simple moving average (SMA) at 1.0920 provides intermediate guidance.
– Daily RSI is neutral near 55, signaling balanced momentum with scope for further advance if 1.0980 is breached.
– Immediate upside targets are the January swing high at 1.1045, while a drop below 1.0850 exposes the 200-day SMA near 1.0790.
**Fundamental Catalysts to Watch:**
– Upcoming Eurozone inflation prints could tip ECB expectations, especially as wage growth remains resilient.
– U.S. FOMC rate decision, as markets seek confirmation that the current plateau of rates will persist.
– Any escalation in trade rhetoric between the EU and U.S. may add volatility.
## GBP/USD: Poised at a Technical Crossroads
Sterling found support in robust U.K. wage growth figures and relative policy stability from the Bank of England. Still, lingering Brexit-related trade frictions and softening services activity pose downside risks.
**Technical Configuration:**
– GBP/USD is consolidating around the 1.2800 handle, having tested and held the 100-day SMA at 1.2720 last week.
– The 14-day RSI is hovering at 58, leaving room for a push higher.
– Key resistance lies at 1.2875, last seen in early February. A convincing break above this could bring the 1.3000 psychological barrier into focus.
– Should the pair slip below 1.2700, next key support is seen at 1.2625 and then the mid-December lows at 1.2500.
**Macro Risk Factors:**
– BOE monetary policy summary and Governor’s remarks will be scrutinized for clues on potential rate cuts later in the year.
– U.K. February CPI data is a critical input for future rate benchmarking.
– Progress or gridlock on Irish border negotiations could trigger sterling-specific swings.
## USD/JPY: Awaiting Clarity Ahead of BoJ Policy Shift
With the yen trading close to multi-decade lows, attention is sharply focused on the March Bank of Japan (BoJ) meeting. Governor Ueda’s hints at an imminent exit from negative rates have not stemmed yen depreciation, as U.S. yields remain elevated.
**Current Market Structure:**
– USD/JPY is oscillating below entrenched resistance at 152.00, with interim support at 149.50 and 148.10.
– The 20-day EMA is acting as dynamic support, reinforcing the bullish structure.
– MACD histogram shows decreasing bullish momentum, flagging the risk of a corrective
Read more on GBP/USD trading.