Outdoor speakers are often mounted under an overhang to help keep them out of the weather. I would just make sure you don't expose more copper than you really need to and try and hide the rest of it.
If your really worried about water and the cables you could always make a drip loop. This is where you make about a 6in (big enough for your fist to go through) loop so that when the water runs down the cable, it drips off the bottom of the loop and doesn't run into your terminal. The only down side is that it may not be as visually appealing.
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