On the news impact: GBP/USD struggled to maintain its upward momentum and traded below 1.2550 during the US session. Earlier in the day, a disappointing April jobs report from the US triggered a USD sell-off and helped the pair reach multi-week highs above 1.2600.
From a technical perspective: As mentioned the pair hit multi-week highs above 1.2600 followed by a correction to the current close to 1.2545, however the near future is likely to The price will likely recover again supported by EMA 34.89. In case it needs to sustain above the 1.2500 level a break will lead to a decline in price while a hold will result in a significant increase in price. Personally, I still maintain strong faith in the technical uptrend next week, if it continues it will establish a growth trend line to 1.2600. And if this happens the possibility of a breakthrough will increase. In this scenario, we expect the price to test the resistance levels in the near future.