The Citizens find themselves adrift of the top four positions in the Premier League after a poor run of form.
While Guardiola knows that his team can recover the deficit and finish in a good position, he admits they need to find that form quickly.
Guardiola said: “Financial is an issue, of course it is, but it’s not just that.
“When I said before, people laughed. It’s presumptuous, us winning the Premier League. They said, ah qualifying for the Champions League is not a big success.
“I know it is, because it happens with clubs in this country. They were dominant for many years and, after, they were many, many years not qualifying for the Champions League.
“The one team that has been in the Champions League for the past 11 or 12 years has been Man City. Now we’re at risk, of course we are, definitely.”