BTC/GBP is trying to hold its strength above the 700-mark. It has hit a low of 699.20 levels so far in the day and is currently trading at 720 levels (Coinbase).
Ichimoku analysis of daily chart:
Tenkan Sen: 811.49
Kijun Sen: 787.55
Trend reversal: 645.65 (90 EMA)
On the upside, immediate resistance is seen at 750 (psychological) and a consistent break above would see it testing 778 (7-DMA)/800.
Momentum studies suggest further bearish trend: RSI(14) is at 46; MACD line is below the signal line; bearish crossovers of 7 and 21-DMA.
On the flip side, the pair has taken support near 690.83 (55-EMA) and a break below would drag it to 672.99 (December 07 low)/ 645.65 (90 EMA).
