BTC/GBP failed to hold its strength above the 800 mark and has declined. It is currently trading at 780 levels (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 726.35

Kijun Sen: 697.21

Trend reversal: 601.40 (90 EMA)

On the upside, further bullishness could be seen only if the break breaks above 800. Any violation would target 825 (200% retracement of 755.81 and 686.22) and further strength would target 854.

On the flip side, the pair is likely to find support near 758 (7-EMA) and a break below would drag it to 734.87 (10-MA)/ 686.22 (December 25 low).