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You can read the part 1 of this articles in NFA-Introduction to Forex
How does the off-exchange currency market work?
The off-exchange forex market is a large, growing and liquid financial market that operates 24 hours a day. It is not a market in the traditional sense because there is no central trading location or “exchange.” Most [...]

This article is a continuation from previous Big Ben Strategy post
The logic
As mentioned, the pound/dollar rate tends to have lower trading volume outside European/London trading hours because the majority of GBP/USD spot deals are worked through U.K. and European dealers. This gives the European/British interbank community tremendous insight into the currency pair’s actual supply-demand picture. [...]

Opening-range breakout techniques has long been favorite of intraday stock index traders. A similar technique can be used in the currency market to capitalize on price moves in the British pound.
Day trading the foreign currency (forex, FX or interbank) market is definitely one of the more challenging endeavors an aspiring trader can pursue. The higher [...]