The Reds midfielder is keen to take things "one game at a time" but acknowledges that Sunday's encounter will be a crucial one in determining who wins the championship
First and third go head-to-head at Anfield with four points separating the two teams, though Manuel Pellegrini's men have played two fewer games.
Many believe that Sunday's clash will decide the title with five matches remaining and the Brazilian understands what is at stake.
"There might be more pressure on City but the Liverpool players are not thinking about pressure or external factors in these last five matches," Coutinho remarked to the media.
"We know that City were considered one of the favourites from the start and that they have a couple of games in hand but we are just trying to focus on one game at a time.
"The players know that these final five matches are very important and will be decisive matches for us. We will fight and do our best on the pitch to achieve the objective of winning the league. Sunday is a very important game."
Liverpool are within touching distance of their first league title in 24 years but City are still the bookmakers' favourites to win the title with two games remaining. Nevertheless, Coutinho is counting on the likes of Steven Gerrard, Luis Suarez and Daniel Sturridge to lead the team to glory.
The 21-year-old continued: "I know that City are a very nice side and they have really good players, especially from the middle going forward, but we have very good players as well.
"It will be very equal match between us and we will be pushing all the time with our fans right behind us.
"Everyone is happy at the club. We are all looking forward to these matches, we are all proud of what we are doing at the moment."