BTC/GBP is struggling for a consistent break above the trend line joining 467.77 and 611.12. It is currently trading at 732 levels at press time (Coinbase).

Ichimoku analysis of daily chart:

Tenkan Sen: 683.18

Kijun Sen: 777.50

Trend reversal: 631.75 (100-DMA)

On the upside, the pair faces strong resistance at 745 levels (trend line joining 467.77 and 611.12) and bullishness could be confirmed only if it breaks above 755 (21-DMA). A decisive break above would target 778.52 (January 08 high)/818.21 (61.8% retracement of 950 and 605.01).

On the flipside, the pair is likely to find support near 714.67 (23.6% retracement of 605.01 and 748.55) and any violation would drag it to 692 (55-EMA)/653 (90 EMA).