In a game which will have big implications at the top of the table, Lawrenson believes that a 1-1 draw would be a satisfactory result for both teams and will keep them in the hunt for their respective targets.
“Liverpool can definitely get at Manchester City's defence with their fast attacking players - in the past we have been asking who the best partner is for Vincent Kompany at centre-back, but he is struggling for form right now and he has gone backwards,” Lawrenson explained on BBC Sport.
“But City have found form again in attack with nine goals in their last two league games. They can hurt Liverpool too, which is why I think this game will end up as a draw.
“That might appear to be a bad result for City, who will drop more points in their pursuit of leaders Chelsea, but the most important thing for them is not to be beaten.
“At the moment they just need to stay in the title race - this is not a case of them needing to win at all cost.”
Will a draw be a good result for both teams?
Liverpool head into the encounter looking to preserve their 10-match unbeaten run in the league, and their Europa League exit could actually prove beneficial in the long run.
On the other hand, City have only won three of their last eight league fixtures, but they are rather fortunately still only five points behind leaders Chelsea in second place.
While on the face of it a draw might prove to be a good result for both teams, it doesn’t really help either side in their respective goals this season, and hopefully both managers will see it from that perspective.
The Merseyside outfit have a tough run of games ahead of them, whereas Pellegrini’s City simply cannot fall further behind Chelsea, especially as their Champions League run looks to be coming to an end.
It is a real humdinger of a match, and a similar performance level to that spectacular Anfield encounter last season will leave a number of Premier League observers more than satisfied.