“Cable” is a slang term in forex markets referring to the British Pound Sterling (GBP) against the US Dollar (USD) currency pair. The term originated from the 19th century when GBP/USD exchange rates were transmitted between London and New York via the transatlantic telegraph cable. This historical connection to the physical cable that carried financial information between the two major financial centers gave the currency pair its enduring nickname.

Cable is one of the most actively traded currency pairs in the forex market, known for its volatility and liquidity. The pair is heavily influenced by UK and US economic indicators, including interest rate decisions from the Bank of England and Federal Reserve, inflation data, employment figures, and political developments such as Brexit negotiations or US elections.

Real-world example: A trader might buy cable at 1.2400 expecting a Bank of England rate hike, speculating that GBP will appreciate against the USD.