EURUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.2995, the fall from 1.3262 is treated as consolidation of the uptrend. As long as the channel support holds, uptrend could be expected to resume, and next target would be at 1.3300 area. On the other side, a clear break below the channel support will indicate that a cycle top has been formed at 1.3262, then the following downward movement could bring price to 1.2800 zone.
