BTC/GBP dropped to 814 levels initially on Wednesday, but turned around and has formed a hammer. It is currently trading at 838 levels (Cloud base) at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 802.50

Kijun Sen: 895.50

The pair is facing strong resistance at 850.78 (38.2% retracement of 1085 and 706) and a consistent break above would see it testing 886.65 (20-DMA)/898.72 (50-DMA).

On the flipside, support is likely to be found at 817.54 (23.6% retracement of 706 and 852) and any violation would drag it to 795 (5-DMA)/761.77.