The Premier League champions failed to slice open the Saints backline in what was a difficult day at the office for Guardiola and his squad.
Despite having the likes of Kevin De Bruyne and Phil Foden back from injury, City were unable to find the back of the net against Ralph Hasenhüttl's side, who are yet to find a win in the league this season.
City failed to sign a striker this summer despite being heavily linked with Tottenham forward Harry Kane, who was keen on moving to the Etihad Stadium to challenge for major trophies.
However, with Ferran Torres named on the bench and Raheem Sterling leading the line, City lacked the cutting edge in front of goal, as they managed to register just one shot on target against Southampton.
Speaking about the absence of an out-and-out striker in his squad following the draw, Guardiola said: "We didn't win not because we don't have a centre-forward, we didn't win as we didn't make better balls for the players up front," as quoted by Sam Lee of The Athletic.
"When they (the balls) are good, you can run and take up different positions. We had one shot on target but four, five were blocked."
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City dominated ball possession for a large chunk of the tie, but often lacked the finishing touch at the end, which will bring massive criticism to the club's hierarchy for their failure to sign an out-and-out striker this summer.
Sterling, who was handed his first start in over a month by Guardiola, failed to make an impact after being positioned down the middle with Jack Grealish and Gabriel Jesus on either side.
The Sky Blues face Wycombe in the Carabao Cup on Tuesday ahead of their crunch league clash against Chelsea next week.
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