Inverse H&S pattern in play on daily time frame.
Looking at monthly time frame GBPUSD has done too much in to short a time i.e. seems oversold so this is likely to be the rebound
Although not shown on chart 38.2 fib level lies at approx 1.31
Entry is placed at the 1.264 which will likely occur on the next pullback following the break of the neckline