While there are several financial centers all around Europe, it is London that market participants keep their eyes on.
Historically, London has always been at a center of trade, thanks to its strategic location.
Today, London benefits from its time zone. London’s morning overlaps with late trading in Asia and London’s afternoon overlap with New York City.
It’s no wonder that it is considered the forex capital of the world with thousands of folks making transactions every single minute.
About 43% of all forex transactions happen in London.
Some traders also refer to the London session as the “European” trading session.
That’s because aside from London, there are major financial centers open in Europe as well, such as Geneva, Frankfurt, Zurich, Luxembourg, Paris, Hamburg, Edinburgh, and Amsterdam.
Below is a table of the London session pip ranges of the major currency pairs.
These pip values were calculated using averages of past data.
Take note that these are NOT ABSOLUTE VALUES and can vary depending on liquidity and other market conditions.