USDCAD has broken ichimoku cloud on 4h chart, so my recomendation is:
sell @ 1.33781
SL @ 1.34718 (above nearest up fractal)
no TP, trailing SL through top fractals.
Last few 4h candles are in a very narrow price range, thus I am expecting intense price movement (maybe on London opening). As we are in the down trend I would go short from the current level with short 30 pips SL near the border of ichimooku cloud and above the last top fractal. My idea:
sell @ 0.84715
SL @ 0.85030
no TP -> trailing SL through the next top fractals
My idea is to buy cable on the 38% fibo retracement (4h timeframe). One could place short SL below 50% fibo. GBPUSD is now in the up trend on 4h timeframe.
buy @ 1.2589
SL @ 1.2550