The Asian session on EUR/USD and GBP/USD is often dismissed as quiet. That quietness is exactly why its boundaries matter. When London liquidity arrives, price frequently reacts to levels established while most UK traders were asleep. If you have not marked those levels, you are interpreting London price action without half the context.
What counts as the Asian range
For pairs dominated by European and US flow, define the Asian session as 22:00 to 07:00 GMT. Mark the highest high and lowest low printed during that window. On a five-minute chart, draw horizontal lines at both levels and add a midpoint line between them. This takes less than a minute and gives you three reference points for the entire London morning.
Some traders prefer the Tokyo open at 00:00 as the start. We use 22:00 because Sydney participation can set early extremes on AUD-cross pairs that influence EUR/USD indirectly. Consistency matters more than the exact boundary — pick one definition and use it every day.
Where price opens relative to the range
Before 08:00, note whether the current price sits in the upper third, middle third, or lower third of the Asian range. Opens in the upper third suggest overnight accumulation above the midpoint — London may test the Asian high early. Opens in the lower third suggest the opposite. Opens near the midpoint often produce the initial balance pattern described in our London open field note.
Range width as a volatility clue
A narrow Asian range — under thirty pips on EUR/USD — frequently precedes an expanded London move. A wide Asian range — over sixty pips — often means London opens inside an already auctioned zone and may chop until a scheduled release forces direction. Measure the range in pips and write the number in your journal header. After a month you will see your own correlation between range width and your trade quality.
A pre-London checklist
- Mark Asian high, low, and midpoint by 07:50 GMT
- Record range width in pips
- Note where current price sits relative to the midpoint
- Check for scheduled releases before 10:00
- Compare current ATR to its twenty-period average
This checklist is the foundation of our workshop pre-session routine. For a full session timetable, see the Session Guide.