BTC/GBP has recovered from 1475 levels hit on May 27 to above 1700 levels. It is currently trading at 1753 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 1796.50

Kijun Sen: 1618.50

The pair is currently hovering around 1760 (7-DMA) and a consistent break above would target 1800 levels/ 1840 (May 28 high)/1900/1980 (78.6% retracement of 2118 and 1475). On the daily chart, RSI is strong at 67 and MACD line is above signal line.

The plunge from 2118 levels to 1475 levels found support near 20-DMA. Support is now seen at 1703 (10-DMA) and a break below would drag it to 1679 (50% retracement of 1240 and 2118)/1610 (4h 100-EMA). Bearishness in the pair would be confirmed if it breaks below 1540 (trend line joining 936 and 1461).