The euro and pound continue to decline, approaching important support levels amid a stronger US dollar. Further moves in EUR/USD and GBP/USD will depend on incoming macroeconomic data, particularly developments in the US labour market.

Today, market attention will focus on economic data from Europe and the US. In the eurozone, services-sector business activity indices will be released, with weaker readings potentially keeping pressure on the euro. In the US, weekly labour-market data will be published, while additional attention will be paid to comments from Federal Reserve representative Christopher Waller. However, tomorrow’s employment report will be the key market reference point. Following the weak ADP reading, further signs of a cooling labour market could strengthen expectations of a more accommodative Fed policy and put pressure on the dollar, while stronger figures could support further dollar gains.

For the pound, domestic data and signals from the Bank of England will provide an additional point of reference. Services-sector business activity figures will be in focus, along with a speech by Bank of England Governor Andrew Bailey, whose comments could influence expectations for the central bank’s future policy.

EUR/USD

As expected, EUR/USD has tested the important 1.1580–1.1620 support area. The decline has so far slowed near the upper boundary of the 1.1520–1.1560 range formed in August. Weak eurozone data could push EUR/USD further into this range. A return above 1.1620, followed by a sustained move above this level, would weaken the current bearish scenario and create conditions for a corrective recovery.

Key events for EUR/USD:

• today at 10:15 (GMT+3): Spain Services Purchasing Managers’ Index (PMI);
• today at 10:55 (GMT+3): Germany Composite Purchasing Managers’ Index (PMI);
• today at 15:30 (GMT+3): US initial jobless claims.

GBP/USD

GBP/USD continues to play out the bearish “tower” pattern described earlier. A sustained move below the important 1.3500 support level keeps the risk of further declines towards the 1.3400–1.3440 area. A rebound from this zone could trigger a corrective recovery, while the bearish scenario could be considered invalidated after a sustained move above 1.3560.

Key events for GBP/USD:

• today at 11:30 (GMT+3): UK Services Purchasing Managers’ Index (PMI);
• today at 17:00 (GMT+3): US ISM Non-Manufacturing Purchasing Managers’ Index;
• tomorrow at 11:50 (GMT+3): speech by Bank of England Governor Andrew Bailey.

Overall, EUR/USD and GBP/USD remain in a downtrend near important support levels, although their further direction will depend on incoming macroeconomic data. Following the weak ADP report, tomorrow’s US employment report will be the key reference point. Further signs of cooling in the labour market could increase pressure on the dollar, while stronger figures could support further dollar gains and lead to continued declines in both currency pairs.

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On 26 August, Meta announced an agreement with a bipartisan group of 52 state and territorial attorneys general and the Attorney General of the District of Columbia. Under the agreement, the company will pay around $18 billion over ten years and introduce additional restrictions for underage Facebook and Instagram users, including a two-hour daily usage limit and an overnight app block from midnight to 6:00 am. Around $5.3 billion of this amount will only be payable if TikTok and YouTube implement similar measures and each pay a corresponding amount. Meta also expects to recognise around $10 billion in legal expenses in Q3 2026 in connection with the agreement.

On the four-hour META chart, the medium-term picture remains range-bound, with the price continuing to move within a broad range between the 690 and 540 areas. Within this range, a short-term decline occurred between 15 and 30 July, during which a pattern resembling a converging triangle formed near the lower end of the move. The pattern’s boundaries progressively narrowed the amplitude of price fluctuations. However, the vertical volume profile throughout the pattern’s formation does not appear typical of this type of consolidation, raising questions about the technical integrity of the structure.

After breaking above the pattern’s upper boundary, the price remains within the current market profile and is now squeezed between the Point of Control (POC) at $587.00 and the upper boundary of the profile at $600.00, attempting to establish itself above the pattern. Red resistance is located around $612.00 and is relatively close to the profile. If the price returns to the pattern’s range and establishes itself below the lower boundary of the profile at $564.00, a green support level around $550.00 could come into play. This level is also relatively close to the profile.

The RSI + MAs indicator is showing readings of 62, 54 and 49. The oscillator is above the neutral zone, while the moving averages remain within the zone, meaning that it is still too early to speak of a confirmed breakout.

Key Takeaways

The atypical volume pattern within the formation, combined with the incomplete RSI + MAs signal, leaves open the question of how sustainable the price’s move above the established structure will prove to be. An additional source of uncertainty is that part of the litigation settlement remains conditional on decisions by Meta’s competitors across the industry.

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Demand for US spot crypto ETFs cooled Wednesday, reversing recent inflow streaks in both Ether and XRP products. After more than a week of persistent buying, spot Ether ETFs saw net outflows totaling $48 million, while spot XRP ETFs recorded $7.2 million in net withdrawals.

Bitcoin ETFs moved in the opposite direction, drawing fresh inflows even as broader cryptocurrency prices slipped. The flow shift matters because ETF purchases are often treated as a barometer for US institutional sentiment toward major digital assets.

Key takeaways

• Spot Ether ETFs pulled $48 million in net outflows on Wednesday, ending 12 consecutive trading days of inflows.
• Spot XRP ETFs recorded $7.2 million in net outflows, ending an 11-session inflow streak that added about $170 million.
• Ether’s largest products led withdrawals, with BlackRock’s iShares Ethereum Trust (ETHA) down $53.4 million on the day.
• Bitcoin ETFs saw inflows of $101.2 million after a prior day of net outflows.

Ether spot ETFs break a 12-day inflow run

According to SoSoValue, US-listed spot Ether ETFs recorded $48 million in net outflows on Wednesday. This marked the end of a 12-trading-day streak during which the funds collectively attracted $1.62 billion.

Farside Investors data showed that withdrawals were broad-based across the largest Ether vehicles. BlackRock’s iShares Ethereum Trust (ETHA) led the day’s outflows with $53.4 million, while Fidelity’s Ethereum Fund (FETH) lost $26.2 million. Grayscale’s Ethereum Staking ETF (ETHE) also saw $23.5 million in net outflows.

One product, however, helped cushion the overall move: BlackRock’s staked Ether ETF (ETHB) posted roughly $53 million in net inflows. Together, these figures suggest that Wednesday’s redemptions were not uniform across every Ether-related wrapper—investors appeared to reallocate rather than exit the theme entirely.

XRP ETFs end an 11-session inflow streak

Spot XRP ETFs also flipped from steady demand to withdrawals. According to SoSoValue, the funds posted $7.2 million in net outflows on Wednesday, ending an 11-session inflow streak.

That inflow run had brought in roughly $170 million, lifting cumulative XRP ETF inflows to about $1.68 billion. The reversal on Wednesday therefore matters less as a single-day withdrawal and more as an indicator that recent momentum may be losing traction.

Bitcoin ETFs attract money as Ether and XRP slip

While Ether and XRP saw net outflows, Bitcoin ETFs took the opposite path. Wednesday’s activity brought $101.2 million in net inflows, following a day earlier marked by $236.5 million in net outflows.

This divergence is notable: it suggests investors were not necessarily retreating from crypto ETFs altogether, but instead rotating exposure across assets during a softer pricing tape.

Price weakness coincides with the rotation in flows

The shift in ETF flows came alongside a broader pullback in major tokens. CoinGecko data cited in the original reporting indicated that over the previous seven days, Ether was down 3.4%, XRP down 2.4%, and Bitcoin down 1.3%.

At the time of publication, Ether, XRP, and Bitcoin were trading around $1,360, $2,407, and $77,744, respectively. While the direction of ETF flows doesn’t always map perfectly to short-term price moves, the timing here aligns with a market mood shift—investors appeared to pause or rotate capital as returns weakened.

For traders and allocators, this combination—slowing inflows in Ether and XRP paired with inflows into Bitcoin—can be interpreted as a near-term preference for the most liquid exposure during uncertainty. It also highlights that the “ETF flow narrative” may vary significantly by asset, even when the overall crypto market is moving in tandem.

What to watch next

Investors should monitor whether Wednesday’s withdrawals in Ether and XRP are followed by another reversal back into inflows, or whether the streak break reflects a more durable shift. Given that one staked Ether product recorded substantial inflows even as other Ether funds saw outflows, upcoming flow data may further reveal whether the market is reallocating within the Ether ETF complex or reducing overall exposure.

Meta announced on 26 August that it had reached an agreement with a bipartisan group comprising 52 state and territorial attorneys general, together with the Attorney General of the District of Columbia. Under the terms of the agreement, the company is expected to pay approximately $18 billion over ten years and introduce tighter protections for underage users of Facebook and Instagram. These measures include a two-hour daily usage cap and an overnight restriction blocking access to the apps between midnight and 6:00 am.

Of the total amount, around $5.3 billion would only become payable if TikTok and YouTube adopt comparable measures and make equivalent payments. Meta also anticipates recording roughly $10 billion in legal expenses during Q3 2026 as a result of the agreement.

On the four-hour META chart, the medium-term structure remains broadly range-bound, with price continuing to fluctuate between the 690 and 540 areas. During the decline from 15 to 30 July, a converging triangle-like formation developed close to the lower portion of the broader range. Its boundaries gradually contracted as the amplitude of price movements narrowed.

However, the volume profile accompanying the formation is not particularly characteristic of this type of consolidation. This unusual volume behaviour raises some doubt over the reliability of the pattern and whether the subsequent move should be interpreted as a fully confirmed technical breakout.

Following the move above the upper boundary, Meta remains inside the current market profile and is now trading in the relatively narrow zone between the Point of Control (POC) at $587.00 and the profile’s upper boundary at $600.00. Price is effectively attempting to hold above the former pattern.

The next red resistance area sits near $612.00, only a short distance above the profile ceiling. Conversely, a return into the previous structure would become more concerning if price establishes itself below the profile’s lower boundary at $564.00. In that scenario, attention could shift towards the green support around $550.00, which is also positioned relatively close to the profile.

The RSI + MAs indicator currently reads 62, 54 and 49. The oscillator has moved above the neutral area, while the moving averages remain around the neutral zone. As a result, the technical picture has improved, but there is not yet enough confirmation to treat the breakout as firmly established.

Key Takeaways

Meta has managed to remain above the converging structure, but the unusual volume behaviour during the pattern’s development weakens the conviction behind the move. The RSI + MAs readings are also not sufficiently aligned to confirm a decisive change in momentum.

The outlook therefore remains dependent on whether price can sustain itself above the current structure and move through the $600.00–$612.00 area. A failure to hold the breakout zone, particularly a move below $564.00, would increase the risk of a return towards $550.00.

The legal settlement also adds a separate layer of uncertainty, as part of the financial commitment remains conditional on whether Meta’s competitors adopt comparable measures. This leaves both the technical breakout and the broader fundamental backdrop subject to further confirmation.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.