Mine looks different, cable comes in straight from the side.That's Imgur's compression for you! If you open the image in a new tab and zoom out a bit it's a bit better to see.
This one might be a bit clearer - just to the right of the steel cable there's a little channel:
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And here's how it should be:
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I believe this may have been related to what Golfdave mentioned regarding lubricating the cable.