Assuming you have a somewhat stock setup, the EFI Fuel Pump sits in the tank so it is submerged in fuel anyway. But yes, it dues draw (suck) fuel and push it into the Fuel Filter, all the way up to the rails.
Allot of Hi-Po Shops sell Books on the 5.0 Mustang. These have pretty diagrams on the fuel systems. I think even regular parts stores sell those Auto Manuals which give an OK description of the fuel setup.
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