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FxWirePro: BTC/GBP faces strong resistance at 21-DMA, break below 725 targets 670

BTC/GBP broke below the 700 mark on December 07 and hit 672.99 levels. It is currently trading at 737 at the time of writing (Coinbase).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 811.49

Kijun Sen: 782

Trend reversal: 641 (90 EMA)

On the upside, major resistance is seen at the 762 (21-DMA) and a break above would see the pair testing 791 (5-DMA)/800.

Momentum studies suggest further bearish trend: the MACD line is below the signal line, bearish crossovers of 5 and 21-DMA.

On the flip side, the pair is likely to find support near 725 (trend line joining 467.77 and 611.12) and a break below would target 686.58 (55-EMA)/ 672.99 (December 07 low).

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January 19 15:30 UTC Released

USECRI Weekly Annualized

Actual

4.5 %

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Previous

3.3 %

January 19 15:30 UTC Released

USECRI Weekly Index

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150.3 %

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Previous

147.6 %

January 21 02:00 UTC 788788m

PHGDP YY

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6.9 0

January 21 02:00 UTC 788788m

PHGDP QQ

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1.3 0

January 21 21:00 UTC 19281928m

KRPPI Growth YY

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3.1 %

January 21 21:00 UTC 19281928m

KRPPI Growth

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-0.1 %

January 21 23:00 UTC 20482048m

JPReuters Tankan DI

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27 k

January 22 07:00 UTC 25282528m

NOIndus Confidence

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2 0

January 22 08:00 UTC 25882588m

TWJobless Rate

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3.69 0

January 22 08:00 UTC 25882588m

TWExport Orders YY

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Previous

11.6 0

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