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FxWirePro: BTC/GBP faces strong resistance at 10-DMA, bias neutral

BTC/GBP continues rangebound trading on Thursday as it faces strong resistance from 10-DMA). It is currently trading at 947 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 954

Kijun Sen: 875

On the upside, a close above 947 (10-DMA) will see a jump till 974 (trend line joining 1085 and 995). Further strength would see it testing 995 (April 12 high)/1038 (March 14 high).

Momentum studies appear neutral and traders are preferred to wait for a confirmed signal on daily charts.

Support is seen at 924.68 (50-DMA) and a break below would drag it to 905.56 (55-EMA)/870.61 (90-EMA).

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Fintech Week Chicago

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