That yellow wire does not look about 16 gauge and may not be fusible link. Fusible link is specially insulated flame proof wire. The fusible link is available in a short length at O'Reilly and other parts stores. I have only seen grey fusible links, so I am suspicious of that yellow wire. It is important to be 16 gauge so it is smaller and will burn up before burning some of the 12 gauge wires elsewhere in the truck. It is supposed to be 2 wire sizes smaller gauge than the wire you are protecting, and electric wire just comes in even sizes, like 12, 14, 16, 18, etc.
Your battery lifter strap is in the way, if you have one of the those emergency repair terminals that clamps onto your main starter wire with 2 bolts and a plate, I really recommend getting a new starter cable too, and I recommend not getting one that is in stock at auto parts stores because they have the wrong one. I recommend ACDelco ACD# 4BC53X GM# 88860050 cable.
http://67-72chevytrucks.com/vboard/s...d.php?t=734496