BTC/GBP hit a fresh all-time high at 1658 levels on Monday and is currently hovering around this level (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 1483.50

Kijun Sen: 1324.50

On the upside, a close above 1620 (241.4% retracement of 1085 and 706) would target 1658 (today’s high)/1666 (127.2% extension of 706 and 1461)/1700.

On the 30-minute chart, the pair has taken support near 1594 (30 min 20-SMA) and a break below would drag it to 1574 (30 min 50-SMA). On the 4-hour chart, 1572 (4h 10-SMA) is acting as a major support and any violation would see a dip till 1537 (4h 20-SMA)/1442 (4h 50-SMA).

On the daily chart, support is seen at 1533 (5-DMA) and a break below would see it testing 1483.50 (daily Tenkan Sen)/1453 (10-DMA).

Caution is advised as both RSI and stochs are in the overbought zone.