BTC/GBP broke above the trend line resistance on Monday and has hit a high of 643.06 levels so far in the day. It is currently trading at 641 levels at press time (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 626.61

Kijun Sen: 608.79

Trend reversal: 565.82 (90 EMA)

On the upside, the pair has broken above the trend line joining 611.12 and 621.47 and further strength would see it testing 650 (161.8% retracement of 611.12 and 547.20)/662.14 (161.8% retracement of 549.45 and 367.10)/700.
 
On the reverse side, the pair has taken support near 625.10 (10-EMA) and a break below would drag it to 613 (21-DMA)/588.68 (December 05 low).