GBPUSD is in a Weekly downtrend following the Weekly correction trend line.
However, there may be a Monthly Correction process that breaks the last Weekly correction trend line. It is currently in the process of creating an initial pattern for a daily uptrend to appear, and as long as it doesn't fall below the green line on the chart on the right, a daily uptrend may appear and reach the 1st target.
Since it is a Monthly Correction process, it will be a Weekly Bullish pattern that rises again after a retracement, and the pattern is expected to be completed in August.
However, there may be a Monthly Correction process that breaks the last Weekly correction trend line. It is currently in the process of creating an initial pattern for a daily uptrend to appear, and as long as it doesn't fall below the green line on the chart on the right, a daily uptrend may appear and reach the 1st target.
Since it is a Monthly Correction process, it will be a Weekly Bullish pattern that rises again after a retracement, and the pattern is expected to be completed in August.