BTC/GBP is trading in a narrow range on Wednesday, as it failed to close above 10-DMA on April 18. It is currently trading at 931 levels at the time of writing (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 954

Kijun Sen: 850.50

The pair broke above 10-DMA on Tuesday but failed to hold its strength and closed below with an inverted hammer formation.

The pair has taken strong support near 925.52 (50-DMA) and any violation would see a dip till 903.67 (55-EMA)/ 878 (February 24 low).

On the upside, further bullishness could be confirmed only if the pair closes above 949.70 (10-DMA), which would then target 976 (trend line joining 1085 and 995)/ 995 (April 12 high).

Momentum studies have turned bearish: RSI is holding slightly above 50, bias lower; stochs are biased lower; and MACD line below signal line.