History of the star: A double star in the cord near the tail of the Northern Fish of Pisces. Fomalsamakah Al phargh, an Arab word, means an outpouring of water and the mouth or lip of any vessel used for liquids. This marked the 1st ecliptic constellation of the Babylonians, Kullat Nuna, the "Cord of the Fish". Another meaning may be the "Dwelling of the Fish". The uniting cords linking the two fishes of Pisces, branching from alpha through omicron, pi, eta, and rho to the tail of the northernmost Fish, and through xi, nu, mu, f, epsilon, zeta, and delta to omega that marks the tail of the one to the south, were Ptolemy's …, "thread". The Arabians knew these cords as Al H'ait al Kattaniyy, the "Flaxen Thread". Cicero called them Vincla, the "Bonds"; another name was Alligamentum linteum or luteum, divided by Hevelius into Linum boreum and austrinum.

[Star Names, Their Lore and Meaning, Richard Hinchley Allen, 1889].  

Robson says it is associated with the Greek "Head of Typhon".

[Fixed Stars and Constellations in Astrology, Vivian E. Robson, 1923] 

The astrological influences of the constellation: The Fishes are associated with the Hebrew letter Pe and the 17th Tarot Trump "The Stars". (Fixed Stars and Constellations in Astrology , Vivian E. Robson, 1923)

The astrological influences of the constellation given by Manilius:

The folk engendered by the two Fishes, the last of the signs, will possess a love of the sea ; they will entrust their lives to the deep, will provide ships or gear for ships and everything that the sea requires for activity connected with it. The consequent skills are numberless: so many are the components of even a small ship that there are scarcely enough names for things. There is also the art of navigation, which has reached out to the stars and binds the sea to heaven. The pilot must have sound knowledge of the earth, its rivers and havens, its climate and winds; how on the one hand to ply the mobile helm this way and that, and brake the ship and spread apart the waves, and how on the other to drive the ship by rowing and to feather the lingering blades. The Fishes further impart to their son the desire to sweep tranquil waters with dragnets and to display on shores which are their own the captive peoples of the deep, either by hiding the hook within the bait or the guile within the weel. Naval warfare too is of their gift, battles afloat, and blood-stained waves at sea. The children of this sign are endowed with fertile offspring, a friendly disposition, swiftness of movement, and lives in which everything is ever apt to change. [Astronomica, Manilius, 1st century AD, book 4, p.243.]

The general astrological influences of the star: Success through determination. (Fixed Stars and Judicial Astrology, George Noonan, 1990).

Preparedness, steadiness, determination and final success. (Robson). 

This star crossed the Aries point  (0º Aries) just at the time of the discovery of the planet Neptune in 1846 A.D., which was so soon to be recognized as co-ruler of Pisces along with Jupiter. The origins of the Babylonian name is obscure now, but it was long thought to be "Cord of the Fish". There is good reason, however, to interpret this as "Home of the Fish". This brings to mind the Sagittarian star Nunki (Pelagus), "the voice from the Sea" symbolizing guidance. It is further significant that the astrological Fishes (Pisces Astrinus and Pisces) are known specifically by their stars in their mouth, Fomalsamakah (this star) and Fomalhaut, (in Pisces Astrinus) in other words by their voices. (The Living Stars, Dr. Eric Morse).