BTC/GBP is moving south after hitting a high of 532.69 on October 16. It has slipped below 10-day MA and is currently trading at 519.98 levels at the time of writing (Coinbase).

Long-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 513.34

Kijun Sen: 495.49

Trend reversal: 472.86 (90 EMA)

On the upside, the pair faces immediate resistance at 521.41 (10-day MA) and break above would target 532.69 (October 16 high). Further strength would confirm bullishness in the pair and see it testing 544.88 (161.8% retracement of 532.69 and 512.96).

On the flipside, the pair has taken support around 515 levels and a break below would target 500 (21-day MA)/475 (100-day MA).