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BTC/GBP trades rangebound, break above 625 targets 650

BTC/GBP continued trading in a tight range with its upside capped by 625 levels. It is currently trading at 623 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 607.65

Kijun Sen: 601.29

Trend reversal: 559.61 (90 EMA)

The pair faces strong resistance at 625 levels and a break above would target 638.77(161.8% retracement of 619.64 and 588.68)/650.
 
On the reverse side, 614.61 (10-EMA) is acting as a major support for the pair and any violation would drag it to 603 (trend line joining 535.30 and 577.60)/588.68 (December 05 low).

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