Petr Cech still believes Arsenal can qualify for the knock-out stages of the Champions League, despite slipping to the bottom of their group after defeat in Germany on Wednesday night.

The Gunners were thrashed 5-1 by Bundesliga champions Bayern Munich at the Allianz Arena and their hopes of progressing to the next stage of the competition were dealt a major blow as a result.

A late winner for Olympiacos at home to Dinamo Zagreb on the same night leaves Arsene Wenger’s men in fourth place and six points adrift of the top two.

Two victories are now needed for Arsenal from their final two matches but that may not even be enough for the FA Cup holders, who need Bayern to defeat the Reds before then triumphing over the Greek side themselves by two goals.

It leaves the English club in a precarious position but Cech, who arrived at the Emirates from Chelsea this summer, insists they are still hopeful of getting the results they need.

“Everything is possible. We have two games to play, we have to regroup and continue fighting until the last minute,” he said. “You need to make sure that you recover and move on to the next one. It was not a day we wanted.”

Arsenal have slipped to 51.00 win the European competition outright while Bayern are 3.75 favourites following their superb performance at home.

Wenger will be aiming to bounce back to winning ways on Sunday when they play host to Tottenham but they face a difficult challenge against their fierce rivals.

Spurs are unbeaten since their opening-day loss to Manchester United and the visitors are 5.00 to extend this run, a draw is priced at 4.00 while Arsenal are 1.67 favourites.