Key details labelled via Signposts on chart. Price is resisted below the 103.82 level.
[Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions.]
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The key concern is that this hourly directional bias may not be confirmed over on the daily timeframe. Smaller bearish bars on the daily can indicate that price is drifting lower before making another uptick higher.