Bristol City decide against deal for Wolves attacker Keogh
The 24-year-old is currently back at Compton undergoing treatment on a back injury.
But, even if he returns to the West Country to complete his loan to the end of the campaign, Keogh will be back at Molineux next month.
City manager Keith Millen said: "When you look at the types of forward we've got he's quite similar.
"I'm looking to get a balance to the squad and have different options in different areas."