The 23-year-old did not travel with Wolves to Portugal a week ago amid interest from Middlesbrough and Luton.
Since then, Rob Edwards’ Luton have been negotiating with Wolves over the final fee, and an agreement has now been reached for £5million.
Giles is now set to have his medical today, as the move edges closer. He is now likely to play against Wolves in a friendly on August 2, when Luton visit Molineux.
The defender, who impressed on loan at Middlesbrough last season and spent some time training with Wolves this summer, will be the latest Molineux departure after Raul Jimenez’s move to Fulham was made official on Tuesday evening.
Daniel Podence is expected to follow Giles out of the door after he also did not travel to Portugal and stayed at Compton to train alone.
Spanish side Real Betis have previously made their interest known in signing Podence.
Jonny Castro Otto is also likely to leave, despite travelling with Wolves for their pre-season training camp.
The defender did not play in either friendlies against Porto and Manchester City’s academy, but has been training with the group as normal.
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Morris on target from the spot as Luton earn Ipswich draw
Striker Carlton Morris netted a second half penalty as Luton earned a 1-1 draw with newly-promoted Championship side Ipswich Town at Colchester United’s ground on Tuesday night.
The Hatters, who were in action in front of fans for the first time since their play-off final win over Coventry City at Wembley in May, handed debuts to summer signings Chiedozie Ogbene, Mads Andersen and Tahith Chong.
Centre half Tom Lockyer also began for the first time since he was stretchered off after collapsing, with James Shea in goal and Elijah Adebayo alongside Morris upfront.
Despite the strong starting line-up, it was the Tractor Boys who went in front on 14 minutes, when Wes Burns’ cross curled past everyone and into the corner of the net
Town found it hard to get going in the contest, as Ipswich came close to a second, Cameron Burgess’ header crashing against the crossbar and Lockyer doing well to block Marcus Harness’ attempt.
After the break, new addition Chong burst forward, his cross unable to pick out Morris, as boss Rob Edwards made changes, Allan Campbell, Cauley Woodrow and Louie Watson all introduced.
