The London Forex market session is one of the most widely traded and active sessions in the forex market. This session is also known as the European session and starts at 8 am GMT (Greenwich Mean Time) and ends at 4 pm GMT. This means that the London forex market session lasts for 8 hours.
The London session is considered to be the most active forex market session due to the fact that it overlaps with the Asian and American sessions. This overlap results in high trading volumes and liquidity, which create an ideal trading environment for traders.
The London session is dominated by the major currency pairs such as EUR/USD, GBP/USD, USD/JPY, and USD/CHF. These pairs account for the majority of trading activity during this session. The London session is also known for its volatility, which offers traders the opportunity to make profits from price fluctuations.
The opening of the London session is particularly important as it sets the tone for the rest of the session. The opening hour is characterized by high trading volumes, which can result in sharp price movements. Traders need to be aware of this and adjust their trading strategies accordingly.
The middle of the London session is generally quieter than the opening hour. However, this does not mean that there are no trading opportunities. Traders need to remain vigilant and be ready to take advantage of any price movements that may occur.
The closing hour of the London session is also important as it can be characterized by increased volatility. This is because traders are closing their positions before the end of the session, which can result in significant price movements.
It is important to note that the duration of the London session may vary depending on daylight saving time. During daylight saving time, the London session starts at 7 am GMT and ends at 3 pm GMT. Traders need to be aware of this and adjust their trading strategies accordingly.
In conclusion, the London forex market session lasts for 8 hours, starting at 8 am GMT and ending at 4 pm GMT. This session is characterized by high trading volumes, liquidity, and volatility. Traders need to be aware of the opening, middle, and closing hours of the session and adjust their trading strategies accordingly.