The London Fix and Its Influence on Daily Forex Price Behavior The 4:00 p.m. London Fix is one of the most important daily events in forex markets. It’s the time when major institutional orders—especially from asset managers and corporate treasurers—are settled to benchmark rates. During the 15 minutes before and after the fix, volatility often increases sharply, especially in heavily traded pairs like EUR/USD, GBP/USD, and USD/JPY. Traders watch for sudden spikes or reversals as liquidity surges and large flows are executed. Some use this time window for breakout strategies, while others avoid it entirely due to slippage risk. The Fix is also key for pricing indices, derivatives, and cross-border asset rebalancing. In recent years, algorithmic trading has amplified price moves around the Fix, making it a “power hour” in daily forex activity. Understanding the Fix can help short-term traders find high-probability setups—or avoid unnecessary risk. It’s also a critical marker for daily highs/lows, with institutional flow setting the tone for overnight action.