As price approaches this confluence area from below on the day of the BREXIT referendum, price will test the confluence point before it does a massive move downwards, breaking the lower parallel (LMH) of the upsloping PF , and gravitate towards the (ML) of the downsloping PF .
Overall market flow is down and the downsloping PF (red) controls the how price will behave.
Price frequency has been shifted between SH-1 and SH-2, with the same bandwidth between ML and LMH.
As price retraces upwards, it will meet resistance from SH-1. If it does not break SH-1, it will be trapped between SH-1 and SH-2.