Arsene Wenger's side is six points behind Chelsea after a 2-2 draw with Swansea City and has secured just two wins in its last six Premier League outings.
Two sides with contrasting form clash this weekend when Manchester City heads to the Emirates Stadium searching for a fifth straight win in the Premier League following Tuesday’s victory over Manchester United at Old Trafford.
A comprehensive Manchester derby victory means City is third, three points ahead of Arsenal, and with two games in hand on Chelsea.
City may be flying, but Arsenal's own title challenge has unravelled following defeats at Stoke City and Chelsea this month – the latter a 6-0 thrashing at Stamford Bridge in Wenger's 1,000th game in charge – before a last-gasp own goal meant the club had to settle for a share of the spoils in a 2-2 draw at home against Swansea City on Tuesday.
In truth, Arsenal has stuttered in the league since the end of January, but Wenger remains optimistic about his side's chances.
"It's all to go for I think, for everybody," the Frenchman told the club's official website. "Everybody speaks about Everton coming back on us [and challenging for fourth place]. Why should we then not come back on the teams who are in front of us?
"There's still a lot of turning games that will happen until the end of the season. But it's down to the quality of our performances. We don't think about the title race now, we think about winning again. So for us just to recover in a positive way against Swansea was very important. Now from that game, be positive again and win the next one."
Manuel Pellegrini's City arrives in London in its best position yet to claim a first Premier League double over Arsenal having sealed a 6-3 win at the Emirates Stadium earlier this season.
City's away-day Premier League games are rarely dull as Pellegrini's side has netted 19 goals in its last seven league outings on the road.
There is no doubting who City's man of the moment is as Yaya Toure followed up his hat trick in last Saturday's 5-0 victory over Fulham with his 17th league goal of the season at Manchester United.
Toure is one short of reaching his 50-goal haul for the club he joined from Barcelona in 2010, which signals an incredible return from a midfielder, even one of the caliber of the Ivory Coast international.
Sergio Aguero (hamstring) would appear unlikely to return for City, along with Matija Nastasic (knee). David Silva has also emerged as a doubt due to an ankle problem.