Which team wins will depend on the performance on the field, but given the way Manchester City and Real Madrid are currently performing against other opponents, I'm slightly ahead of Manchester City in this match.
That's surprising. If we're talking about form isn't Madrid better? At the time of writing City plays in the FA Cup and the score is currently 2-1 for City, which is quite subpar considering the opponent and their line-up for this match. Not to mention their last defeat against Arsenal shows how weak they are with ball retention and pass accuracy. If Madrid plays a counterattack and press high I believe they'll have a lot of chances to score if City fails to solve those problems until then. CMIIW.
Guardiola is a coach who will not just sit back and watch his team slump, especially when the news about City losing 5:1 to Arsenal is still going viral. Guardiola must be thinking of a big plan to create a surprise and if we talk about Madrid, then City is a tough opponent, even in their last 5 matches, City won 2x - Madrid 1x - drew 2x.
the conclusion I can draw is that the strength of both is very balanced imo.
Yes you are right, pep guardiola will not allow real Madrid to win them just like that not after losing 5:1 to arsenal, pep guardiola is a great coach and I believe he will look out for a tactic he can use to win real Madrid however it won't be that easy for him cause real Madrid too will want to show them self's and seeing that the two teams don't like each other because of the ballon d'or issue, both teams will take this match very serious and because of that it may end in draw, real Madrid is a team that is always inform when it comes to champions League and they always play very well and they may still fine a way to win Manchester city, just like you said the straight of Manchester City and that of real Madrid are the same this season however Manchester City is still finding it hard to stand on there ground and be consistent so real Madrid still have a little opportunity of winning the match, this season Manchester City has no chance of winning the champions League because they are not informed this season however real Madrid can still win the champions League because they can come back to full form because is champions League they always do that and it always works for them.