Thanks to Milan who just posted this in the chat-room. I’m not 100% on their levels but I love the direction:

“MORGAN STANLEY TRADE IDEA OF THE WEEK
In the week of the FOMC meeting, we still like being short CAD. As markets continue to price in tapering, we have found CAD to be the most vulnerable G10 currency to the expected resulting rise in bond yields. Canadian government bonds have the highest correlation with US Treasuries. In addition, Canada’s weak foreign asset liability and leverage position, relative to other G10 countries, make it particularly vulnerable. We believe that the retracement in GBPCAD should provide attractive entry levels for this position. In the UK, the unemployment data and the BoE minutes are key risk events for this trade.
Buy GBPCAD at 1.7200, stop at 1.7080, target 1.7600