BTC/GBP failed to break above 78.6% Fibo and is currently trading at 578 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 574.24

Kijun Sen: 563.78

Trend reversal: 516.18 (90 EMA)

The pair faces immediate resistance at 589.71 levels (78.6% retracement of 601.29 and 547.20). The overall trend remains bullish for the pair and break above this levels would target 601.29 levels (November 09 high)/611.12 (November 03 high).

On the downside, support is seen at 547.20 (November 13) and a break below would weaken it further to 535.30 (November 03 low)/ 516.18 (90 EMA).