First run stalled.
The GBPUSD made an earlier run at a topside channel trend line. The price stalled at the line and rotated back down. The low stalled at swing area in the 1.3923-293 area (see red circled numbers and the lower yellow area).
The price has moved back higher and is now breaking above the trend line and continued through the 200 hour MA (green line) and the 100 hour MA (blue line) at 1.3974). The 38.2% has also been broken.
Buyers are pushing. The 1.4000 level is the next upside target
Risk is now the broken trend line at the 1.3956 level. Stay above will keep the buyers in control.