I like it, but I think the proportions are wrong for the space, at least by itself. Surrounding it with other art or even moving that bookshelf and getting another one to hang side-by-side might be better in that space, especially with a new, longer-lined couch.

I also agree the proportions are wrong. You would do better with a painting or arrangement of paintings that are longer and shorter.

I would try hanging the art piece a bit higher.

Which couch are you replacing? I think an "L" arrangement with one sofa in the window and the other, much longer one, on the wall might work. I'd remove the skinny bookcase so you can center the sofa on the wall. Then hang the art 5" above the sofa.

Do you think if I hang it higher and move the bookshelf it would look right? It is on a vault wall.

both couches - was wanting more straight lined couch and a chair?

What groveraxle said - you need artwork that is wider side-to-side. Your piece is currently not wide enough for its height in proportion to your room, even when leaning on the back of your couch, so hanging it higher is not going to look right, either. You need more work on either side of it (or even on the whole wall to create a gallery wall) to balance it out.

too big and too bold , find something rectangular for over the sofa or a grouping even

use it this way instead

Would you be willing to hang it so that the striations run horizontally? I'm not liking the vertical repetition of your stair rail.

Good idea groveraxle:)

I like that- I will have to move bookshelf.

here i turned the picture - so lines are running the other way

Some better art to go with your red canvas, now turned horizontally: