We can have a sense of direction, by checking the position of the market relative to the key levels on chart, and it'll soon be clear if this support at 119.88 is holding, thus proving the 'sideways into the elections' thesis correct, or, discarding it, if we break below that market, making a test of 118.65 the next logical event.
If this level doesn't hold, as evidenced by the market making a daily HIGH, that is lower than it, then we could expect a fall back to the Pre-Brexit highs area.
118.65 remains the key here, if retested, bulls want it to contain the selling, and strong buyers emerge right there. It would already be negative if the floor at 119.88 doesn't hold though, so keep close watch of it.
If we don't see lows under 120.10 in the next 5 bars, we could easily envision higher prices, possibly a higher all time high after the elections.