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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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May 26 14:30 UTC Released

USECRI Weekly Annualized*

Actual

5.1 %

Forecast

Previous

5.0 %

May 26 14:30 UTC Released

USECRI Weekly Index*

Actual

144.1 %

Forecast

Previous

144.5 %

May 28 15:00 UTC 15231523m

SAM3 Money Supply YY*

Actual

Forecast

Previous

0.0 %

May 28 15:00 UTC 15231523m

SAPvt Sector Loans YY*

Actual

Forecast

Previous

-0.1 %

May 29 08:00 UTC 25432543m

EZLoans to Households*

Actual

Forecast

Previous

2.4 %

May 29 08:00 UTC 25432543m

EZLoans to Non-Fin

Actual

Forecast

Previous

2.3 %

May 29 08:00 UTC 25432543m

EZMoney-M3 Annual Grwth*

Actual

Forecast

5.2 %

Previous

5.3 %

May 29 23:30 UTC 34733473m

JPAll Household Spending MM*

Actual

Forecast

1.1 %

Previous

-2 %

May 29 23:30 UTC 34733473m

JPAll Household Spding YY*

Actual

Forecast

-0.7 %

Previous

-1.3 %

May 29 23:30 UTC 34733473m

JPJobs/Applicants Ratio

Actual

Forecast

1.46 %

Previous

1.45 %

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