Oct 15, 2016
This is GBPUSD exchange rate forecast
from Aug 7 to Aug 11.

At first, below is economic news last week.

Financial Times reported:

"Bank of England Governor Mark Carney warned
that persistent uncertainty over the UK's future relationship
with the EU is holding back business investment and household spending,
as the central bank cut its growth forecasts
and left interest rates unchanged."

According to Reuters,

"The U.S. Labor Department said
nonfarm payrolls rose by 209,000 jobs last month.
June's employment gain was revised up to 231,000
from a previously reported 222,000.
The unemployment rate fell to 4.3 percent
while average hourly earnings rose 0.3 percent,
the largest increase in five months."

Owing to BoE's dark growth prospects
and US employment indicators improvement,
the GBPUSD exchange rate has fallen sharply weekend
and closed at 1.3043.

Above is GBPUSD Chart.
You can see the candlestick chart and ichimoku cloud indicator.

The GBPUSD exchange rate is receiving resistance at the upper limit of cloud.

The Tenkansen and Kijunsen stopped rising this week.
And they enter into the horizontal level.

The Tenkansen is the average of the highest and lowest prices for latest 9 weeks.
The Kijunsen is the average of the highest and lowest prices for latest 26 weeks.

The Chikouspan is the line that retreated the current exchange rate backward by 26 weeks.
It is sailing above the past GBPUSD exchange rate.
It has been facing downward past exchange rates.
This means the past candlestick supports chikouspan more weekly.

Following is GBPUSD exchange rate forecast weekly.

I forecast GBPUSD exchange rate weekly
will be moving in the range
from 1.2989 similar to chikouspan rate
to 1.3160 which is near past kijunsen rate.

Above is according to "Foreign exchange rates and economic trends".