Arteta's Arsenal will continue in the Premier league Championship race with Manchester City. Manchester City can live with Arsenal this year, similar to the race that lasted until the last week with Liverpool last year in the Premier League. There will be an away game against Fulham and I think they will win this game.
last season, man city won the EPL with very thin points from liverpool (man city 93 & liverpool 92) and it's true what you said, this season it will happen again and we will see a competitive rivalry between arsenal and man city until the end season. even though arsenal's winning percentage against fulham next week is quite high, the arsenal squad should not underestimate this match, a draw or defeat will have a negative impact on arsenal's ranking because man city continues to stick tightly.
I think if LFC can perform well then they can definitely beat Real Madrid and go to the next round. The game LFC showed against Man United was truly unbelievable. No one could have imagined that Man United would lose so many goals with LFC. However, LFC's next match against Real Madrid looks set to be a very interesting game between the two teams. Earlier in the game Liverpool and Real Madrid were defeated by Liverpool. However, if LFC performs well in the next match, then it seems that it will be very difficult for Real Madrid to win.
We can't exaggerate Liverpool's 7-0 win over Arsenal, this season Liverpool is still struggling with the instability of their performance and it's not certain that when they face Bournemouth, Liverpool can win big again, it's the same when they face Madrid in the UCL leg 2, I personally am not sure liverpool journey will be smooth.