Geology question - Ellesmere

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This is a picture of Ellesmere Island.
What am I looking at here?

Are these two branches of a glacier, one from the north and one from the south, and they met at the middle, and formed a hanging valley that deposited water towards the right of the picture?

Or is the water feature actually a river (going up and down in the center of the picture), but is slowly starting to flow toward the other river in the right center of the pic?