Step1) Backup your files and your database before upgrading!
P="/var/www"
S="yoursite.com"
D=$(date +'%Y%m%d%H%M%S')
cd ${P}/${S}
wp db export /tmp/${S}-${D}.sql
cd ${P}
tar --exclude=${S}/wp-content/uploads -zcf /tmp/${S}-${D}.tgz ${S}
Step 2)
WordPress CORE updates
Probe for updates
wp core check-update
Perform Update
wp core update
Step 3)
WordPress CORE database
Check for database updates
wp core update-db --dry-run
Perform DB update
wp core update-db
Step 4)
Update Plugins
Check for updates
wp plugin update --all --dry-run
Perform the upgrade
wp plugin update --all