City's 2-0 defeat to Wolves means they are now eight points behind Liverpool just eight games into the season.
Adama Traore struck twice in the dying embers of the game to hand Manchester City their worst start since the 2013-14 campaign under Manuel Pellegrini, when they went on to win the title.
Guardiola believes Liverpool’s lead is surmountable despite Jurgen Klopp’s men enjoying a healthy advantage with thirty games left to play.
“It was a bad day, sometimes it happens,” Guardiola said. “We started quite well and after we conceded two situations in our buildup where it’s impossible to defend, we got a little bit nervous’.
“We controlled them better in the second half but at the end with us attacking and people up front, we lost balls in positions [where] it is so difficult and they were clinical. Before that we hit the post but the way we played was not good. It was not a good day.”
Guardiola added: “It sometimes happens. We spoke about this: ‘Come on guys, a lot of games [still] to play, we did it [last season] and we’re going to do it again.’ We lost to a good team that were really well-organized, good physicality, strong in the air and so fast on the counterattack. We knew it.”
“It is a lot of points. They didn’t drop points [due to] many circumstances. I had a feeling we were not quite bad. Today was the day we create less than the other matches, even in the [3-2] loss at Norwich we create a lot.
“We face many teams defending with deep systems and more or less we found a way to do it but today we had a problem. It is better not to think that one team is eight points ahead.”
“I know these guys. Still they are incredibly involved [committed] and can do it’.
‘Most of the teams who won [the Premier League] in the past, the year after, don’t win [unlike City last season]. Today was the day … not our level’.
‘The previous games were good. But the distance is big. I know that. Liverpool is not dropping points. But we are in October, still a lot of games and competition’.