BTC/GBP broke below the Ichimoku cloud and hit a low of 706 levels on March 25. It is currently trading at 786 levels at press time (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 802.50

Kijun Sen: 895.50

The pair is currently hovering around 5-DMA and a close above is likely to face resistance at 814.50 (10-DMA). Further strength would see it testing 828.77 (90-EMA)/897.96 (50-DMA).

On the flipside, support is likely to be found at 753.85 (1W 20-SMA) and a break below would see a dip till 706 (March 25 low)/664 (January 07 low). Overall trend appears bearish and further weakness could be seen on a decisive break below 1W 20-SMA.