The GBP/CAD has formed a bullish divergence with price in the POC zone [2/8, D L3] 2/8 is significant as we observe historical rejections from that pivot. Bullish divergence happens when price makes a lower low while the oscillator makes a higher low.
POC zone is 1.6660-70 [2/8, D L3]. If we see a bullish rejection from this zone, the first target will be 1.6720 [W H4, 4/8] and 1.6750 [D H3, 5/8], eventually reaching 1.6800 [W L3, D H4, 7/8]. Trigger wise, we will be looking for bullish candlestick configurations. An engulfing candle is a surefire way to bank some good pips from this setup.
We stop all trading of the pair if price breaks 1.6620 [W L5, D L4, 1/8, ATR Projection Low]. Anything below W L5, we will not have enough confluence to justify any trades.