In Philippians 1:9–11 Paul makes clear what his prayer is focused on. The core of his prayer is that love may abound more and more. Love has a broad meaning here: love for God, for Christ, and for each other. That love is a gift of the Holy Spirit (Romans 5:5). Paul also emphasizes that it is the love of them all (your love, plural). This love is not an individual feeling, it is about the growth of the love of the whole congregation.
Paul prays that the growth of love may be manifested in an increase of knowledge and discernment. Growth in knowledge: knowledge of faith, deeper understanding of the gospel, greater understanding of who God is and what he is doing through Christ.
Growth in discernment: growth in sensitivity to people and to the things in life, learning to properly assess the circumstances.
9 And it is my prayer that your love may abound more and more, with knowledge and all discernment,