Arsenal are two points clear at the top of the table and the boss says that makes them favourites as it stands.
But he is not ruling out challenges from Tottenham Hotspur, Newcastle United, Manchester United, Chelsea and Liverpool.
Jurgen Klopp’s side are 15 points behind the Gunners, but Guardiola says recent experience shows Liverpool are more than capable of putting together a run of results to mount a title challenge.
“In the past, the same manager and same squad were able to make 17 victories in a row, 18 victories in a row many times,” he said ahead of Saturday’s clash with Fulham.
“In these last few years, many times they have done it, why could they not do it again?
“Nobody knows what will happen after the World Cup, in the transfer window and how players will come back.
“The first candidate right now is Arsenal. Why? They are top of the league. The gap to the rest is close.”
Newcastle are a new name to the list of challengers but have lost only once this season and Guardiola says they are capable of maintaining their form throughout the campaign.
“They have an incredible physicality, the rhythm they play and they play one game a week,” he added.
“They are not playing in Europe and when this happens it’s a big advantage for deciding moments in terms of energy. They have incredible energy - imagine having one long week.”
Hear Guardiola‘s pre-match thoughts in full via the video above…
