Only if they produce what Guardiola described as "the flawless game" at the pre-match press conference.
Liverpool will be hoping that forward Mohamed Saleh, who has a groin injury, will be fit to play.
He told a pre-match news conference: "Of course, to go through you have to make nearly the flawless game, create a lot of chances, be clinical, and the chances we're going to receive, defend well and the keeper save it". The chances we receive, we have to defend well. "We have 90 minutes and extra time and we showed we could create a lot of chances in few, few, few minutes and the opponents know that".
"We have to attack, to try to build the counter-attacks".
City's players know that scoring the first goal is the most important on Tuesday and if that happens they have the ability to score four or five quickly.
That is probably the biggest worry for Guardiola, because he can not afford for any of his players to have any doubts.
Reds boss Klopp watched City run riot in the first half of Saturday's Manchester derby before United staged a stunning comeback to beat them.
Southampton matchwinner Danny Welbeck makes World Cup claim after big win
The Saints were level in the second half thanks to super sub Charlie Austin , but Welbeck headed in the victor for the hosts.
It may be fatigue, coupled with the pressure of the business end of the season, that has allowed self-doubt to seep into hitherto confident minds. "But if we are not able to cope with that psychologically, it will be a good lesson for the future. Our situation is not the easiest situation in world football, we are not flying with a full squad, but we stick together and we want to go as far as possible".
"They do it always, that's how City play", said Klopp, whose side lost 5-0 on their previous visit to the Etihad this season.
The game will be the fourth meeting between the two sides this season. This will give their Premier League rivals heart for next season.
The momentum will certainly be with Jurgen Klopp's boys, but there is a cause for concern with respect to Salah's fitness. Nonetheless, complacency could be Liverpool's greatest challenge at the Etihad this evening.
Fernandinho admits they failed to cope with Liverpool in the first leg and says they must not concede if they are to have any chance of going through.
Having established a commanding 3-0 first leg lead in that contest, a hero of the club's last triumph from 2005 sees no reason why Liverpool can not go "all the way".