GBPUSD Head-and-Shoulder Short Trade

GBPUSD M30

Pair GBPUSD is making out a head-and-shoulder pattern in hourly chart. Neckline comes around 1.6120.



On M30 chart price has bounced from 200EMA, while on hourly chart 100EMA is providing support. 

I went short this pair from 1.6118 but with small size(being Friday).

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GBPUSD H1

UPDATE ON 3-Nov-12 10:55GMT: Head-and-shoulder short trade worked out very well. I booked my short at 1.6040 below the horizontal area support area. That was +78pips.