City appear to be cruising towards the title having won 20 of their opening 22 games – and drawn the other two – to open up a 15-point lead at the top of the table.
But Guardiola is not taking anything for granted and is not looking too far ahead.
The City boss, whose side face Liverpool in an eagerly-anticipated clash this afternoon, said: “In football and in sport, anything can happen.
“Of course we can lose the title because you never know what is going to happen in the next 13 or 14 games you have to play. Of course, if we maintain our level, the consistency and the way we play, then OK, we have a chance. But you never know.
“If we start to go down, and lose confidence, and don’t play well regularly, then we will see. Maybe that is going to happen, and I am going to shake the hand of my opponents and congratulate them for being champions.
“But it is simple – just focus on the next game. That is the best advice I can give to my players.”
Guardiola is also well aware of the threat that Liverpool possess heading into today’s game.
He added: “Jurgen Klopp is a master of the counter-attack, so they’re a team who can arrive in the finishing area in three or four touches.
“(Mohamed) Salah and (Sadio) Mane are tough guys for us to control, especially when we lose the ball in dangerous positions, because they are so fast, so quick and so clever in the box.”