Grealish has been injured since the international break, while Foden was forced to miss the midweek win over Paris Saint-Germain.
The boss says he will assess them tomorrow ahead of Sunday’s game against West Ham to determine if they are fit to play.
“They are training individually,” said Guardiola.
“They are much better, especially Phil. Right now they are on a day off and tomorrow we train in the morning and we will see how they feel.
“We will not take risks, but hopefully they will come back soon.
“For the last game against Paris Saint-Germain we had 17 players, just 15 in the first team, McAtee and Palmer helped us.
“With this amount of games, we need them back as soon as possible to help us.”
Kevin De Bruyne is still isolating after testing positive for COVID-19 last week.
“A little bit tired, no taste,” said the boss.
“The symptoms other people say when you have got COVID, he feels it.
“Now he is seven or eight days. A few more days and we will do a PCR test and if he is negative he will be back.”
Everything you need to stay close to the action is available all in one place.
Minute-by-minute text updates get under way at 12:00 (UK), with team news, analysis and all the latest opinion.
Our Matchday Live show will start just before 13:00 (UK). Joining presenter Cel Spelman in the studio are former City stars Trevor Sinclair and Michael Brown to keep you entertained right up until kick off.
They will then reconvene for a quick half-time debrief before a more in-depth post-match verdict, including their reaction to the full-time thoughts of Pep Guardiola and a player.
The guests will also answer viewer questions throughout the broadcast, with audience participation actively encouraged on Matchday Live. To get in touch, send a WhatsApp to: +447537186538.
And there will be live commentary throughout the 90 minutes, too, with Alistair Mann and Shaun Goater in the commentary box to guide you through the game.
Download the Man City app now and you won’t miss a beat. Don’t forget to turn push notifications on, that way you’ll get reminders of everything as the day unfolds.
And our app coverage doesn’t end there…
Highlights of the game will be made available for free at 19:00 and CITY+ subscribers can watch a full 90-minute replay of the game at midnight.
The best way to follow Manchester City is by downloading the official app!
If you already have the City App then simply visit the stores and update.