Wait for the price to make a failure break in GBPUSD

W1: In a downtrend
D1: During the recovering rhythm, it returned to FIB76.4% and reacted
H4: Touches the old peak area again
H1: There are 5 waves, but not yet breaking the rising structure of the recovery span
=> Price is in a rising wave, it may sideway the top of the H4 frame (1,240 - 1,265) before signaling to act.
Expected price failure when retesting the area of 1.265 to SELL
first.

P/s: This is my personal opinion, not trading recommendation. I do not assume any responsibility for your trading decision.