BTC/GBP is continuing rangebound trading on Friday as its upside is capped by 38.2% fib retracement. It is currently trading at 845 levels (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 779.50

Kijun Sen: 895.50

Intraday bias is neutral with flat-lined RSI and the pair trading in a close range from the past few days. Overall bias appears bullish as long as the pair holds the 100-DMA support. Stochastics point higher and a bullish MACD crossover could be seen.

The pair is facing strong resistance at 850.78 (38.2% retracement of 1085 and 706) and a consistent break above would see it testing 868.75 (20-DMA)/899.48 (50-DMA).

On the flipside, a decisive break below 828.42 (100-DMA) would drag the pair to 810 (March 10 low)/795 (61.8% retracement of 616 and 1085)/762.15 (61.8% retracement of 706 and 853).