Clubs have just four days to secure the signatures of their top targets, before the transfer window slams shut at 11pm on Thursday.
We'll keep you up-to-date with the latest transfer news and gossip every day this week.
Share your thoughts or transfer predictions by commenting below or tweeting with the hashtag #ThisIsTransfer. Hull City midfielder Paul McKenna has joined League Two side Fleetwood Town on loan for the remainder of the season.
McKenna, 35, was on Friday given the green light to join the club, arguably signalling the end of his time at the KC Stadium. Cheltenham Town have brought in Manchester United youngster Luke McCullough on a month-long loan deal.
The deal with the 18-year-old defender was finalised on Friday. Swansea City striker Leroy Lita has signed with Sheffield Wednesday on loan until the end of the season.
The 28-year-old penned a loan deal on Friday.
Meanwhile City defender Ashley Richards has moved to Crystal Palace on a loan deal. He will remain at Selhurst Park until the end of the season.
And in other transfer news Danny Graham looks increasingly likely to make a switch to Sunderland.
Sunderland are reportedly keen to finalise a £5.5 million deal for the boyhood Newcastle fan. Graham is expected to sign a three-and-a-half-year deal, BBC Sport reports.
The Swansea City squad has urged Danny Graham to stay at the Liberty, but players insist they will respect whatever decision the striker makes.
Another Swansea City deal to watch concerns Kenwyne Jones. The Trinidad & Tobago international may be set to join from Stoke City .
The 28-year-old, who was plucked from obscurity by Southampton in July 2004 is understood to be City's top transfer window target.
Meanwhile Blackpool's Tom Ince could be set to make a move to City. The club would have to fight off Liverpool and Reading to secure the player's signature, however. Nottingham Forest defender Brendan Moloney has penned a two-and-a-half year deal with Bristol City.
The former Republic of Ireland Under-21 international on Friday joined City on a free transfer.
Meanwhile Forest striker Matt Derbyshire has joined Blackpool on loan for the rest of the season.
The 26-year-old, who joined Blackpool on Friday, had been keen to secure a permanent move away from the City Ground. Bristol City youngster Conor Evans has signed his first professional contract at the club, Sky Sports reports.
The 16-year-old is understood to have yesterday penned professional terms with the club.
According to BBC Sport Stoke City need, in a nutshell, a new pair of full-backs and to keep their goalkeeper. Plymouth Argyle on Friday signed Yeovil Town forward Reuben Reid, 24, on loan until the end of February. Colchester United have signed Crystal Palace midfielder David Wright on a free transfer. The length of the deal for the 32-year-old has yet to be confirmed.
