After having both ultra sound and mammogram my doctor requested a biopsy .. does this means i am more likely to have cancer?

Don't worry yet: There is certainly a chance that the biopsy will reveal cancer. I cannot say, without more information, how likely it is. Oftentimes, however, biopsies of "suspicious" looking areas (as seen on mammograms and ultrasounds) lead to non-cancer results.

Possibly.: It's possible that your doctor is concerned about breast cancer. However, it's just as likely that he or she wasn't convinced that what was seen on mammogram isn't cancerous. If the ultrasound showed a solid (rather than cystic) mass, then s'he is doing the right thing by requesting a biopsy. Best wishes.