Liverpool are in the driving seat to win claims Glen Johnson
City are currently favourites to retain the crown they won with a record 100 points last season as they cannot be stopped if they win all of their five remaining games.
However, Liverpool are top as it stands having played a game more and could conceivably finish second on a whopping 97 points if both sides finish the campaign with respective 100 per cent records.
Guardiola’s City host Tottenham in the second leg of their Champions League quarter-final tomorrow night looking to turn around a 1-0 defeat from the first leg.
They then face Spurs again at the Etihad just three days later in a period that could go some way to defining their season.
Guardiola knows nothing but a win will do tomorrow night and concedes defeat in the league would hand the title to rivals Liverpool.
"If we don't win these games this week, we lose both titles," he said.
"This season we had an incredible opponent in Liverpool.
"Usually 84, 85 points is enough to win the title. We both deserve it but only one can get it."
Pep Guardiola thinks both Manchester City and Liverpool deserve to win the Premier League title (Image: GETTY)
While Guardiola insists they are entering a defining week for the cub he says there will be no knee-jerk reaction if they are knocked out.
"I don't dream too much about things far away. I want to get to the semi-final," he added.
"Whatever happens tomorrow, next season we will be there again in the draw in Monaco in August.
"I know how focused the players are. The desire to get to the semi-finals. Will it be enough? I don't know.”
Jurgen Klopp's Liverpool are currently top but Guardiola's City have a game in hand (Image: GETTY)
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City face Spurs twice in three days and John Stones says they are relishing the challenge (Image: GETTY)
John Stones spoke on behalf of the payers in the build-uptothe Spurs clash and says he and his team-mates are focussed on overturning the one-goal deficit.
"Vincent Kompany made a good point before [Crystal] Palace [a 3-1 win on Sunday] where these sorts of moments as players bring out the best in us," he said.
"We have got five games left in the league, everything to play for and we’ve got to keep believing and enjoying the pressure."