Euro / British PoundEducation
The large opening cone speaks to long term volatility in EURGBP
Long term opening cone shapes as depicted on the chart (blue lines) speaks of long term volatility as a result of fundamental market shifts in sentiment and uncertainty. BREXIT had a large part to play in this but more recently it may be COVID 19. Nonetheless, use the cone as a measure for retracement over the long term. Look for price action to retrace to half the cone initially, around the 0.88 levels.
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