“Cable” is a nickname commonly used in forex trading to refer to the GBP/USD currency pair. This term originated from the time when the exchange rate between the British pound and the US dollar was transmitted across the Atlantic Ocean via a cable that ran along the ocean floor.
The GBP/USD pair is one of the most widely traded currency pairs in the forex market, and it represents the exchange rate between the British pound and the US dollar. When traders refer to “cable,” they are typically referring to the current or historical exchange rate of this currency pair.
Traders may use technical analysis tools and fundamental analysis factors, such as economic data releases or political developments, to trade the GBP/USD pair and try to profit from its price movements. It’s worth noting that like any other currency pair, the GBP/USD can be affected by a variety of factors, including global events and market sentiment, which can make trading this pair volatile and challenging.