Attachments: Why is GBPUSD called cable?

Why is GBPUSD called cable?

#61
May 2, 2013 10:33am May 2, 2013 10:33am

XTrade
Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts

Quoting uingun

Disliked

so MXNUSD... pesodilla?

Ignored

WHY ARE YOU TRADING AN EXOTIC LIKE USD/MXN.

IT IS AN EXTREMELY HARD PAIR TO TRADE UNLES YOU HAVE EXTENSIVE KNOWLEDGE OF Mexican and US trade relations, Drug cartels and busts, Mexican Politics, What Commodities they provide like Agave, besides Cocaine and heroin

Simply put when the dollar weakens the Peso gets stronger. The pair does not move fast, requires high margin and has huge spreads at least in the US.

If you know what you are doing sure you can risk a few standards and make money, yet, I would learn the MAJORS FIRST iN AND OUT!

BTW GBP/JPY is called Geppy on this forum.

XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News

#62
Dec 17, 2013 6:00am Dec 17, 2013 6:00am

FineForex
| Joined Jan 2013 | Status: Trader | 737 Posts

I personally call GBP/NZD "Frankenstein" cuz it's insane

#63
May 10, 2015 4:55am May 10, 2015 4:55am

justiniuxas
| Joined Oct 2014 | Status: Trader | 110 Posts

What about gbpusd - piggy, gbpjpy - widowmaker.

#64
Jul 13, 2015 8:29pm Jul 13, 2015 8:29pm

Deliciouspip
| Joined Feb 2015 | Status: Lording over the forex | 532 Posts

Quoting RoBiK

Disliked

{quote} Transatlantic cables are cables that have been laid along the ocean floor to connect North America and Europe. Before the advent of radio, the only means of communication across the Atlantic Ocean was to physically connect the continents with a transatlantic telegraph cable, which was operative in 1867. The exchange rate between the United States dollar and British pound is still colloquially known as "cable" by financial marketeers on account of the fact that the rate was originally transmitted via a transatlantic cable.

Ignored

thanks for your explanation, now i know

lol

Perfecting your entry will increase your profits

#65
Edited 8:49am Feb 16, 2022 1:58am | Edited 8:49am

Andyibet
| Joined Feb 2022 | Status: Trader | 17 Posts

Quoting packetguy

Disliked

I have a friend who calls GBP/JPY "piece of shit" as he is holding shorts since March.

Ignored

Also known gbpjpy called the widowmaker due to people trading cable then switching to gbpjpy. The far bigger swings caused a lot of emptied accounts and, euphamistically, dead men.
Especially when the wife finds out

#66
Apr 6, 2022 11:44pm Apr 6, 2022 11:44pm

noonmoon
| Joined Nov 2020 | Status: Trader | 23 Posts

This is the first time I am hearing about GBPUSD being called as cable, that's so cool

#67
Apr 8, 2022 3:44am Apr 8, 2022 3:44am

BinhAutoDat
| Joined Oct 2021 | Status: Trader | 138 Posts

Quoting RoBiK

Disliked

{quote} Transatlantic cables are cables that have been laid along the ocean floor to connect North America and Europe. Before the advent of radio, the only means of communication across the Atlantic Ocean was to physically connect the continents with a transatlantic telegraph cable, which was operative in 1867. The exchange rate between the United States dollar and British pound is still colloquially known as "cable" by financial marketeers on account of the fact that the rate was originally transmitted via a transatlantic cable.

Ignored

I couldn't explain better. Thank you, I took it.

#68
Jun 2, 2024 5:20am Jun 2, 2024 5:20am

ArtStep
| Commercial User | Joined Dec 2016 | 285 Posts

Attached Image (click to enlarge)

Click to Enlarge

Name: cable.jpg
Size: 127 KB

Why is the GBP/USD exchange rate called "cable"?
Because the two currencies are connected not just economically, but also literally by the transatlantic cable!

#69
Edited 4:44am Jun 17, 2024 2:37am | Edited 4:44am

TopClasHedge
| Membership Revoked | Joined Jun 2024 | 47 Posts

Trades for the night

Gbpusd I expect a Bullish Move Short Term. This is not a Signal with no obligation to follow. However you can check the accuracy later. If trade goes wrong I have my own setup and If it goes very wrong Hedge a component is there for the rescue plan.

Here is the Trade Setup Gbpusd:

Attached Image (click to enlarge)