The British pound / U.S. dollar currency pair is one of the oldest and most widely-traded currency pairs in the world. The term cableis a slang term used by Forex traders to refer to the exchange rate between the pound and dollar and is also used to simply refer to the British pound itself.
The term dates its origins to the 19th century. In the 1800s, the exchange rate between the U.S. dollar and British pound was transmitted across the Atlantic by a large cable that ran across the ocean floor between the two countries. Since that time the exchange rate has been referred to as the cable.
Trading Forex (GBPUSD ) Pair on the Intraday basis on 30 minute time cycles. The charts (Bar Chart - As Gann used to make different type of Bars) would be available on 30 minute’s timeframe, with the market turning points (with the variation of ±2 trading hours). All time periods mentioned are in GMT (Greenwich Mean Time).
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Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose.
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