As previously mentioned, simple binding is the business of taking a simple chunk of data and tying it to a user control. When the data changes, the control reflects that change. When the control's display is edited, the data changes if write access is enabled.
Each Windows Forms control maintains a BindingContext object that, in turn, has a collection of CurrencyManager objects. By the way, the CurrencyManager has nothing to do with financial exchanges. It simply maintains a current position within a particular data object for you. Child controls, such as the GroupBox, can also have their own independent BindingContexts and CurrencyManagers.
The illustration in Figure 3.3.1 shows the relationships between Form, Control, BindingContext ...