BTC/GBP broke below the 800 mark on Wednesday and fell to 793 levels, before it closed at 836 levels. It is currently trading in a narrow range between 818 and 841 levels at press time (Coinfloor).

Ichimoku analysis of daily chart:

Tenkan Sen: 899.50

Kijun Sen: 923

On the upside, the pair faces immediate resistance at 833.28 (90-EMA) and a break above would see it testing 854.14 (7-DMA)/884.77 (38.2% retracement of 1085 and 761)/900 (50-DMA).

Momentum studies remain bearish: the MACD line is below the signal line; and RSI(14) is weak at 41.

Support is seen at 813.72 (61.8% retracement of 761 and 899) and any violation would drag it to 791 (Cloud bottom)/761 (March 18 low)/750 (February 09 low).