GBP/USD is challenging the support trend line (blue). A bearish breakout could see price move lower to the major trend line (blue) and decision zone.
GBP/USD could make a bearish continuation towards the Fibonacci targets if price manages to break below support. If price is completing a wave 1 (purple), then price could eventually build a larger retracement to the upside.
GBP/USD made a bullish pullback which bounced at the resistance trend line and Fibonacci levels of wave 4 (green). A break above the resistance could indicate a bullish break and different wave pattern whereas a bearish break could see price move lower.