BTC/GBP continued its uptrend on Tuesday and hit a high of 748 levels so far in the day. It is currently trading at 735 levels at press time (Coinbase).
Ichimoku analysis of daily chart:
Tenkan Sen: 691.76
Kijun Sen: 777.50
Trend reversal: 627.21 (100-DMA)
On the upside, the pair faces strong resistance at 760 levels (21-DMA) and a break above would target 778.52 (January 08 high)/818.21 (61.8% retracement of 950 and 605.01).
Momentum studies appear slightly bullish: RSI(14) is at 52 with upward bias and MACD seems to be on the verge of bullish crossover. Also, the pair is trading well above 55-EMA.
On the flipside, the pair has taken support near 689.26 (55-EMA) and any violation would drag it to 650 (90 EMA)/605 (January 12 low).
