BTC/GBP fell to 707.71 levels on Tuesday as BTCC, Huobi and OKCoin implemented fee-based trading. It is currently trading at 721 levels (Coinbase).

Ichimoku analysis of daily chart:

Tenkan Sen: 724.35

Kijun Sen: 777.50

Trend reversal: 663.67 (90-EMA)

On the upside, the pair faces immediate resistance at 733.64 (21-DMA) and a break above would target 755 levels (trend line joining 467.77 and 611.12). Further bullishness could be confirmed only if it breaks above 764.42 (January 22 high) and would then test 778.52 (January 08 high).

On the flipside, the pair has taken support near 700 (55-EMA) and a break below would drag it to 663.67 (90-EMA)/644 (100-DMA).