can we direct traffic based on IP address

For sure, you can check IP address on client side, and select a member on server side.

https://devcentral.f5.com/articles/irules-101-05-selecting-pools-pool-members-and-nodes.UksHqmRRlRQ

https://devcentral.f5.com/wiki/irules.ip__addr.ashx

Hope this help. Let me know if you do not find your syntax in the irule 😉

Small i.e with pool selection :

when CLIENT_ACCEPTED {
if { [IP::addr [IP::client_addr] equals 10.10.10.10] } {
pool my_pool
}
}