FxWirePro: BTC/GBP re-takes 800, jump till 850 likely

BTC/GBP once again breached the 800 mark and has hit a fresh high of 819.42 levels, where it trades currently (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 751.16

Kijun Sen: 705.97

Trend reversal: 614.06 (90 EMA)

On the upside, immediate resistance is seen at 820 levels (127.2% retracement of 805.75 and 751.55). Momentum studies remain bullish – the MACD line is above the signal line and RSI(14) is at 82.64 – suggesting further upside possibility. A consistent break above 820 would test 854 levels (241.4% retracement of 755.81 and 686.22).

On the flip side, the pair is likely to find support near 782 (7-EMA) and a break below would drag it to 751.55 (December 30 low)/703.35 (21-day MA).