An Observable is witnessing applied to a Term within a Profile — what can be seen from a particular position in a particular relational universe.
Observation (from step 11) extracts what can be seen from a Term within a context. Observable is what Observation becomes when it operates within a Profile — a complete relational universe carved out by a Filter.
The distinction matters: Observation operates on the full relational field, but physics operates within Profiles. An Observable is observation localized to a particular Profile’s perspective. Different Profiles may yield different Observables from the same Term, because each Profile reconstructs the derivation internally with its own Flow, Nucleus, and Geometry.
Observables, States, Evolution, and Measurement are the four structures that Geometry produces when it acts on the contents of Profiles — the physics of the relational field.