cup and handle

Gbpcad is in an uptrend since the august of 2019, now if we look at the daily chart we can see a short-term uptrend since the double bottom formed at the beginning of july 2020, the price is now above the trendline and is testing it. If we count the waves we can see that the pair is creating the fourth one (which is a flag as highlighted in the chart). I think that a buy trade is a great opportunity, set a stop loss below the 100-day sma.
Enjoy your trading