Good for US (and travel) is good for the GBP
The dollars has moved higher vs. the EUR, CHF, JPY after the US jobs report, but not against the GBP. That currency at times is thought of a "risk on" currency. It also can get squeezed higher as traders work through the potential negative of Brexit, and coronavirus, etc. on their economy. Although if travel opens up, that will certainly help the UK.
Technically, the price has moved to the highest level since March 12. In the process, the pair moved above its 200 day moving average for the 1st time since March 12 again. Recall that in April 2 hundred day moving average stalled the rally not once but twice. So getting and staying above that moving average level is key for technical traders today.
The upside so far has been capped. The high has so far reached 1.27030. We currently trade at 1.26886.
So from a technical perspective, the bias moved more bullish above the 200 day moving average, but retracement resistance still needs to be busted for further upside potential.
Drilling to the hourly chart, in addition to the 200 hour moving average, there is trendline support developing over the last 2 trading days. That trend line currently comes in at 1.2634 and rising. The current prices some 60 or so pips away. However, the trendline is moving higher. It may come into play later down the road (if the next week).
For now the bulls remain in control with work to do at the 1.2709 retracement level
