The GBP/USD is showing a higher high and higher low after a bullish break above the resistance trend line (dotted orange).
The GBP/USD is probably building a larger bullish correction within wave 2 (pink) or alternatively within a wave 4.
The GBP/USD is probably building a bullish ABC zigzag (blue) within a larger WXY correction (purple). Price could now be building a bearish correction within wave 4 (green) as long as price stays above the 61.8% Fib of wave 4 vs 3. A continuation could see an extension of the bullish wave C (blue).