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Abstract: The British pound trades most actively against the U.S. Dollar during the European and London trading hours. There is active trading during the U.S./European overlap, but outside the time frames, the pair tends to trade relatively lightly because the majority of GBPUSD trading is done through UK and European market makers. This provides a great opportunity for day traders to capture the initial directional intraday real move that occurs within the first few hours of London trading. This strategy exploits the common perception that UK traders are notorious stop hunters. This means that the initial movement at the London open may not always be the real one. The “waiting for the real deal” trading strategy first sets up when interbank dealing desks survey their books at the onset of trading and use their client data to trigger close stops on both sides of the markets to gain the pip differential.