Foden scored and was superb in Saturday's win against Sunderland.
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Ahead of Wednesday's trip to face Real Madrid in the Champions League, Guardiola said: "Phil is incredible.
“He is scoring a lot of goals. He came to me after the game and said he didn’t feel well today and look what happened how he runs, in behind, regain the ball.
“When he is in this momentum and this mood, he is a gift and a diamond. He is top.”