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).