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ExplainersLab

Why cable gaps

published 13:17 · updated never, that’s the point
£$GBPUSD — prices, shape and the desk →

SOFR 3.87% · 22 Sept 2026 · NY Fed

Cable got its name from the transatlantic telegraph cable that once carried its price between London and New York, and the order book hasn't calmed down since.

Cable gaps more than the other majors because its order book thins out fast outside London hours, so a surprise data print or a stray headline can move price tens of pips before the next quote even prints.