James Gunn has already confirmed that he would be directing Guardians of the Galaxy Vol. 3, and he apparently thinks that it's totally possible to have a fourth Guardians movie in the line — just with different characters.
Talking to the Toronto Sun, Gunn says:
"I think the first three movies tell a single story and that story is pretty simple. I think that there could be a Guardians Vol. 4, but it would not be the same. It would not be the same group… basically the story of this group ends with Vol. 3."
Granted there are several Guardians characters from the comics that haven't appeared as members of the group like Cosmo, Adam Warlock, Moondragon, and Bug, so there are a lot of characters to work on from that point. What I think is necessary, however, is to have at least one or two members from the original group showing up — like Tony Stark and Captain America in Spider-Man: Homecoming.
Chris Pratt a.k.a. Star-Lord is very happy working for Marvel, so it's possible that he would sign up for another movie after the third Guardians. If Hugh Jackman could play Wolverine for nine movies, Pratt has surely do the same with Star-Lord.
As of now, Guardians Vol. 4 is still a far off project, but we do get to see Guardians of the Galaxy Vol. 2 when it hits theaters May 5.
See Also: Sylvester Stallone Being Considered For Mark Miller's Guardians of the Galaxy-Esque Comic Adaptation
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