GBP/USD is unusually heavy along Asian hours, selling off over 60 pips in the last hour. From a daily perspective, a 9 wave count off 1.4780 in early July appears to have completed around 1.6240, with the failure to break above it on its second attempt suggesting that a change in trend structure might be in place, potentially exposing 1.60/1.5950 major swing low in the days/weeks ahead. As Valeria Bednarik, Chief Analyst at FXstreet.com, notes: "The GBP/USD was pressured by BOE's Miles words, stating that it would be "pretty catastrophic" to raise rates before unemployment in the UK is down by a meaningful ... (full story)