We present the results of an analysis of photometric time-series observations for NGC 2126 acquired at the Thai National Observatory (TNO) in Thailand and the Mount Lemmon Optical Astronomy Observatory (LOAO) in USA during the years 2004, 2013 and 2015. The main purpose is to search for new variable stars and to study the light curves of binary systems as well as the oscillation spectra of pulsating stars. NGC 2126 is an intermediate-age open cluster which has a population of stars inside the Scuti instability strip. Several variable stars are reported including three eclipsing binary stars, one of which is an eclipsing binary star with a pulsating component (V551 Aur). The Wilson-Devinney technique was used to analyze its light curves and to determine a new set of the system’s parameters. A frequency analysis of the eclipse-subtracted light curve was also performed. Eclipsing binaries which are members of open clusters are capable of delivering strong constraints on the cluster’s properties which are in turn useful for a pulsational analysis of their pulsating components. Therefore, high-resolution, high-quality spectra will be needed to derive accurate component radial velocities of the faint eclipsing binaries which are located in the field of NGC 2126. The new Devasthal Optical Telescope, suitably equipped, could in principle do this.