BTC/GBP is trading rangebound on Monday between 589 and 598 levels. It is hovering around 21-day MA and is trading at 591 levels at the time of writing (Coinbase).
Long-term trend: Bullish
Ichimoku analysis of daily chart:
Tenkan Sen: 600.98
Kijun Sen: 578.38
Trend reversal: 536.78 (90 EMA)
On the topside, the pair faces immediate resistance at 599.55 (7-EMA) and a break above would see it soaring to 621 levels (November 20 high)/ 632 (127.2% retracement of 621.47 and 580.50)/ 650.
On the reverse side, a consistent break below 591.74 (21-day MA) would target 568.22 (61.8% retracement of 535.30 and 621.47)/ 547.20 (November 13 low).
