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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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2017-01-20 15:26:23
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January 20 07:00 UTC Released

DEProducer Prices YY

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1.0 %

Forecast

1.0 %

Previous

0.1 %

January 20 07:00 UTC Released

DEProducer Prices MM

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0.4 %

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0.4 %

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0.3 %

January 23 07:00 UTC 37793779m

TRConsumer Confidence*

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63.40

January 23 13:00 UTC 41394139m

SACPI YY*

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2.3 %

January 23 13:00 UTC 41394139m

SACPI MM*

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-0.2 %

January 23 13:30 UTC 41694169m

CAWholesale Trade MM

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1.1 %

January 23 15:00 UTC 42594259m

EZConsumer Confid. Flash

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-5.1 %

January 23 19:00 UTC 44994499m

ARAnnual Industrial Output*

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Previous

-2.5 %

January 23 21:00 UTC 46194619m

KRConsumer Sentiment Ind*

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94 bln $

January 24 00:30 UTC 48294829m

JPNikkei Mfg PMI

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Forecast

Previous

52.4 %

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