Both Man City and Liverpool are very strong teams right now. Both of them have the same chance to win EPL title in the next season. We can see how good their current performance is. However, we don't underestimate Tottenham and Arsenal, I guess they will show a better performance in the next season. Or they even may compete for the title if Man City and Liverpool have difficulty maintaining their good performance. Tottenham and Arsenal become stronger after they signed some players in the current transfer window.
Tottenham always seem to have Man City's number on them with Spurs winning or at least drawing against the champs, a fair few amounts of times in the recent past. Arsenal have looked very promising in the pre season friendlies(at least compared to Chelsea) and I think Gabriel Jesus will have impact from upfront. Spurs have improved their quality and depth of their squad and seem to be prepared to compete in all competitions with quality lineups showing up. There is definitely a strong case that the North London teams could be up for the title. That being said, I'm not 100% sure on how Liverpool will perform in the up and coming season with Mane gone. He wasn't performing to his best abilities last season but still was an integral part of Liverpools attack. I personally might even place the London teams over Liverpool at the moment on potential top 3 rankings. Whatever said, its going to be a long season and the ones that keep it consistent throughout the season will have a chance to win the title.