The emergency loan window has not opened yet but there is no doubt that some teams are likely to be considering their moves in the loan market.
Sheffield Wednesday, according to reports, have been doing just that.
The report claims that Wednesday made an offer for the player in the January transfer window and that they would return when the emergency window opens.
However the report makes it clear that Guedioura has no intention of leaving Watford for Sheffield Wednesday - or any team on loan for that matter.
The Algerian midfielder has seen first-team football hard to come by and the recent arrival of Mario Suarez from Fiorentina has made that even more difficult.
But he is said to be settled at Vicarage Road and is not happy to be moved out on loan. The 30-year-old spent two stints on loan at Watford in the past and joined The Hornets permanently in 2015.
He has played 12 times for the club this season but it seems he will not be strengthening Sheffield Wednesday's promotion tilt.