BTC/GBP has recovered from the lows of near 600 levels and is currently trading at 696 levels that the time of writing (Coinbase).

Ichimoku analysis of daily chart:

Tenkan Sen: 691.76

Kijun Sen: 777.50

Trend reversal: 625.27 (100-DMA)

On the upside, a consistent break above 700 levels would target 736.80 (38.2% retracement of 950 and 605.01)/778.52 (January 08 high).

On the flipside, the pair has taken support near 689 (55-EMA) and any violation would drag it to 649.22 (90 EMA)/605 (January 12 low).