The Gunners have been in stuttering form in recent weeks and had to come from a goal down with 10 men to earn a 2-2 draw in last weekend’s north London derby clash with Tottenham at White Hart Lane.
Arsenal were touted as one of the favourites to win the Premier League title at the turn of the year but Arsene Wenger’s men have slumped down to third place in the table and three points behind second-placed Tottenham.
However, former Liverpool man Redknapp feels that the Gunners still have what it takes to win the title this season.
Speaking to Sky Sports News HQ, Redknapp said: “There’s a lot of negativity around Arsenal and Arsene Wenger in the press and in the stands at the moment but they can’t be ruled out of this title race.
“In fact, I think their result at White Hart Lane could have changed everything for them. If they were beaten at Tottenham, it could have been so damaging to the manager – who you felt was under pressure – and the players.
“Alexis Sanchez was out of form, they’d picked up a couple of injuries – but now they’re back on track and, with the FA Cup this weekend, have the opportunity to rest some key men.
“They are going to be knocked out of the Champions League by Barcelona – not many people doubt that – and that will free them up to focus on the Premier League and the FA Cup, should they get past Watford.
“They will drop points and slip up. But this season is like Rocky I, when they’re knocking each other down and getting back up again. The last team standing will lift the trophy.”
Arsenal take on Watford in the quarter-finals of the FA Cup at The Emirates on Sunday.
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