GBPCAD is bouncing off at a major weekly support level. The Daily Time Frame has formed a Bullish Crown Formation, with the right tip equaling the left tip to the exact level, if the day today closes with a green Bar and a healthy Volume it can be a good entry point to ride it up to the next support to become future resistance on the daily ( see marked green line) its good to wait for a counter trend line break on the smaller time frame beofre considering entering the Trade.
I hope this information was helpful. My goal is to make it as simple as possible and easy to understand for you so you have the confidence to do what is necessary to do.
Please let me know in the comments anything you see different what I see, lets discuss it!