BTC/GBP continued trading in the red on Friday as it failed to break above 950 levels. It is currently trading at 756 levels at press time (Coinbase).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 830.93

Kijun Sen: 781.62

Trend reversal: 633.97 (90 EMA)

On the upside, major resistance is seen at the psychological level of 800 and a consistent break above would target 840 (5-DMA)/852 (23.6% retracement of 530.30 and 950).

Bearish crossover of MACD and rolling over of RSI (14) from overbought levels suggest short-term bearish trend in the pair.

On the flip side, the pair is likely to find support near 720 (trend line joining 467.77 and 611.12) and a break below would target 686.22 (December 25 low)/633.97 (90 EMA).