EURGBP- THE BIG BULLISH REVERSAL

On the daily time frame, the price chart of EURGBP has been spotted forming a reversal chart pattern.
What is divergence? Divergence occurs when an indicator trends in one direction and price trends in another direction. Specifically, an indicator will make lower highs while price makes higher peaks, or the indicator will make higher valleys even as price tumbles to new lows.
But looking at what is presented above, indicates a particular type of divergence, this type of divergence is called THE REGULAR BULLISH DIVERGENCE.
This occurs when price is making lower lows (LL), but the oscillator is making higher lows (HL), this is considered to be regular bullish divergence.
This normally occurs in a down trend. Traders needs to watch this closely and get ready to open a long position. Price needs to close above the horizontal which will market the push to the upside.
Breakout level: 0.85970
Resistance 1: 0.86306
Resistance 2: 0.87076
Resistance 3: 0.87738
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Ideas published should not be referred to as an investment advice.