GBPUSD Downtrend Continuation?

As you see in the 4H chart, although price is above the last week’s high, there is a sharp downtrend which is in the correction phase in the form of a H&S continuation pattern. There is a strong resistance level at 1.4 which has pushed the price to the downside twice.

If the right shoulder of the H&S pattern created, we can expect a downside breakout on the neckline around 1.3870 and a fall in price to 1.38 which is a strong support level (monthly and weekly low), and in the case of a downside breakout on 1.38, we can expect more fall to 1.3750

Otherwise, if the pattern failed, we should wait for the 1.4 level upside breakout to make sure about the trend reversal and uptrend begins for price to rise around 1.42 in the future.

What is your side on GBPUSD?

Feel free to share your ideas in the comments.