A lot going on in the chart, but it's pretty simple. The GBP is rubbish, and the USD is strong.
GBP broke out of the downward trend, lost it's buyers, now sinking. Trying to break above the level I've circled, lots of indecision, but no break.
US Dollar chart shows strength, GBP is fundamentally weak. SL set at where the idea is wrong, the start of the push down, and TP set into the choppy previous lows.