BTC/GBP is facing strong resistance at 21-DMA is struggling to break above. It is currently trading at 718 levels at press time (Coinbase).

Ichimoku analysis of daily chart:

Tenkan Sen: 729.57

Kijun Sen: 777.50

Trend reversal: 664.75 (90-EMA)

On the upside, a decisive break above 723.70 (21-DMA) would see the pair testing 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 705.89 (50-EMA) and a break below would drag it to 687 (trend line joining 367.10 and 535.30)/664.75 (90 EMA).