BTC/GBP is trading higher on Monday and hovering around 1250 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 1141.50

Kijun Sen: 1086

On the upside, the pair faces immediate resistance at 1259 (May 04 high) and a close above would see it testing 1303.98 (113% extension of 913 and 1259)/1330 (113% extension of 706 and 1259).

Caution is advised as lead indicators are in extremely overbought zone.

On the reverse side, support is seen at 1209 (5-DMA) and a break below would drag it to 1155.90 (10-DMA)/1128.49 (23.6% retracement of 706 and 1259).