Regardless of the result of this game, IMO Liverpool will remain as the favorites to win the Premier League again [they might concede goals, but they're great at finding the back of the net]... IIRC, the last time that Arsenal won at Anfield, Arteta was playing for us, so I have a feeling the match will end in a draw [a high-scoring one].
Liverpool cannot remain favourites as they have already lost that status. Arsenal were priced equally with Liverpool before this round at 2.75. It is obvious that if Liverpool wins, they will return to the status of the sole favorite, and if there is a draw or defeat, then Arsenal will become the favorite. An additional factor that can change the odds is the transfer of Isak. If it happens, then Liverpool's chances will obviously increase.