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FxWirePro: BTC/GBP trades higher, break above 113% fib targets 2356

BTC/GBP surpassed the previous high of 2118 levels to hit a fresh all-time high at 2209 levels, where it currently trades (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 1950

Kijun Sen: 1724

On the upside, the pair faces resistance at 2232 (113% extension of 1240 and 2118) and a break above would see it testing 2292 (127.2% retracement of 2118 and 1475)/2356/2515.

Momentum studies appear bullish on the daily chart: RSI is strong at 79, stochs suggest higher bias, and MACD line is above the signal line. However, as bearish RSI divergence could be seen on the daily charts, traders are advised to watch out for turns in major indicators.

Support is seen at 2169 (1h 10-SMA) and a break below would drag it to 2109 (1h 20-SMA)/2033 (1h 50-SMA).

On the daily chart, major support is seen at 2038 (5-DMA) and a break below would target 1910.50 (10-DMA)/1780 (20-DMA).

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