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FxWirePro: BTC/GBP edges above Ichimoku cloud, break above 38.2% fib targets 900/931

BTC/GBP has broken above cloud top and is currently trading at 873 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 899.50

Kijun Sen: 923

On the upside, immediate resistance is seen at 884.77 (38.2% retracement of 1085 and 761) and a break above would target 900 (sychological)/931 (10-DMA).

Intraday bias appears bullish: In the 4-hour chart, the pair has broken above 20-SMA with RSI at 51 and MACD line above signal line; and in the hourly chart, the pair is trading well above 50-SMA with RSI at 66 and MACD line above signal line.

On the flipside, support is seen at 831.83 (90-EMA) and a break below would drag it to 807.69 (100-DMA)/761 (March 18 low).

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