A bearish outside candle has formed on the daily chart, which is part of a double top at the 1.0482 high. The candle also has a large upper which to suggest strong supply at those highs, and a bearish divergence has also formed on the RSI (14). We are now looking for prices to retrace towards 1.0200 as part of a countertrend move, near the 38.2% Fibonacci level.
