Arsenal 1-2 Watford: Premier League - as it happened

So Arsenal miss the chance to breathe new life into their title challenge as they are beaten in the league by Watford the first time since 1988. That probably buries them as far as the title is concerned, while the Hornets claim victory on the eve of Graham Taylor's funeral on Wednesday.

Well that is all we have time for on this live blog. We're back tomorrow with a round-up of all the January transfer window deadline day deals, but until then goodbye.

Full time: Arsenal 1-2 Watford

Watford win at Arsenal in the league for the first time since 1988 and all-but end the Gunners' title hopes. Younes Kaboul struck a deflected free-kick before Troy Deeney doubled the lead with barely a quarter-of-and-hour on the clock.

Arsenal did rally, belatedly, and Alex Iwobi pulled one back. However, the comeback could not be completed and Watford held to claim a valuable victory in their bid to avoid the drop and all but extinguish Arsene Wenger side's hopes of ending their long wait for a league title.

Perez denied by Gomes in the final minute of added-on time. Watford looking odds-on to see this through.

Five added-on minute at The Emirates Stadium. Is that enough for Arsenal, or indeed for Watford?

Mesut Ozil plays one pass too many and Watford survive again. Approaching stoppage time, when Arsenal normally come alive.

Arsenal produced a late salvo against Bournemouth, Preston and Burnley; but can they do it again tonight? Watford sitting deep and standing firm. Yellow card for Okaka for leaving a foot in on Mustafi, but it only disrupts Arsenal's flow.

Lucas Perez smashes the ball against the underside of the bar. No idea how that stayed out, and it came just as Arsenal looked to be running out of ideas.

Stefano Okaka on for Watford, with potential match-winner Troy Deeney going off. Five minutes left for the visitors to hold out, and Arsenal to level.

Nacho Monreal with a volley with real shape and vigour, but it flies wide of Gomes' goal, who is yet to be tested since Iwobi's strike. Watford showing great resolve here.

Into the last 10 minutes and perhaps for the first time since Arsenal pulled one goal back, Watford look comfortable. Little doubt that any remaining life in the Gunners' title aspirations will die tonight if they can't strike late here.

Alex Iwobi diverts Arsenal back into the game.

Bit of a lull in the game as we enter the final 20 minutes. Arsenal pilling on the pressure but Watford are showing their physicality when possible. Lucas Perez on for Arsenal but can he force a late goal?

Should Watford have a penalty? Capoue goes through again and Coquelin lunges in dangerously, but gets the ball and Arsenal even win the goal-kick. Great decision by Andre Marriner.

The rain continues to fall at The Emirates Stadium.

Arsenal queuing up looking for an equaliser. Theo Walcott is denied by a block by Britos. Watford are being torn to shreds at times and this 2-1 lead couldn't look more thin.

GOAL! Arsenal 1-2 Watford (Alex Iwobi)

A lifeline for Arsenal as they pull one back just before the hour mark. Sanchez is denied a penalty but he is back into the action as he crosses for Iwobi, who sends his cushioned volley back from where it came and into the corner. Watford rocking, it must be said.

Britos and Cathcart hesitate and the ball falls to Ozil, but Gomes makes another low save. Watford merely surviving.

Watford cut apart again as Iwobi and Sanchez exchange passes, but Gomes gets down low to deny the Nigerian. Arsenal a matter of time away from an opening goal.

An Arsenal fan takes a break from watching the game to blame Arsene Wenger.

Arsenal coming at Watford in waves now and they should be back in the game. Iwobi shifts the ball on quickly and Walcott is left one-on-one with Gomes, but the Brazilian makes a good low save.

Aaron Ramsey compounded a wretched half for Arsenal with a first half injury.

Much better from Arsenal in the opening minutes of the second half. They press high and Watford succumb, but Theo Walcott can't find the target when presented with a good opportunity.

Alexix Sanchez now playing through the middle for Arsenal. While that change does see their hat-trick hero from the weekend come on, it does curtail their aerial threat -not that a physical battle with Watford was ever likely to work.

Theo Walcott coming on for Arsenal. He'll need a magic wand to get Arsenal out of the whole they've created for themselves here. He replaces Olivier Giroud as the second half gets underway.

Half time: Arsenal 0-2 Watford

The worst half in Arsene Wenger's 20 years as Arsenal manager? It not, I'd like to see which game wins that ignominious award. The north Londoners have been hopeless in the opening 45 minutes, with the goals and rain falling in equal measure.

Younes Kaboul and Troy Deeney have netted very prevented goals for a Watford side who have been superb and could be further ahead if it wasn't for a series of saves from Petr Cech. Wenger is watching in the stands for the second game in a row, and he is powerless to inspire his side. The title might be done and dusted tonight.

Chelsea lead at Liverpool and Arsenal's evening goes from ban to worse. They badly need to at least halve the deficit in the four minutes remaining in the first half. But it doesn't look likely.

I covered Arsenal's trip to Bournemouth when they came back from three goals down, having produced one of their worst first half displays in Arsene Wenger's era at the club. But this is rivaling it. And Bayern Munich come to north London in March. I dread to think.

Arsenal are all over the place at the back and Cech saves again to keep it down to 2-0. Deeney's cross-shot is only half cleared and Janmaat forces the former Czech Republic international into another save. Steve Bould, the senior man on the Arsenal bench, has to get into his team. Watford are attacking at will.

Petr Cech keeps Arsenal from going three behind. Capoue with another probing run down the left and Sebastian Prodl with a looping header which is turned over.

The resulting corner falls to Britos, who connects well with his shot and Giroud intervenes before Cech can be tested. Just as well, as the ball was really travelling.

An image around The Emirates after 32 minutes.

Arsenal's desperation to get back into this game there for all to see here as Nacho Monreal exchanges passes with Olivier Giroud and upon the slightest bit of contact with Craig Cathcart he goes to ground. Referee Andre Marriner had no hesitation and quickly showed the yellow card. Both Arsenal full-backs in the book now.

Troy Deeney rejoices after firing Watford into a two-goal lead.

Gabriel booked for fouling Niang as Watford looked to launch another attack. Just the 70 minutes for the Brazilian to negotiate against the Hornets new signing, who has looked very lively.

Alex Oxlade-Chamberlain was mightily impressive against former club Southampton last weekend and he is on to replace Ramsey, in a change that might have happened anyway. Arsenal have been woeful in these opening minutes.

Younes Kaboul powers Watford into a shock lead.

Aaron Ramsey's nightmare evening continues as he goes down with what looks like a calf problem and that might be his race run, after just 18 minutes. Another spell out for the Welshman on the way.

GOAL! Arsenal 0-2 Watford (Troy Deeney)

It's raining goals at The Emirates but not the way you might expect. Watford double their lead as Etienne Capoue ghosts past Mustafi and when Cech saves his effort, the re-bound it fired home by Deeney. Arsene Wenger is powerless as he watches on from the stands.

GOAL! Arsenal 0-1 Watford (Younes Kaboul)

The Hornets have been the better side in the opening 10 minutes and they take a lead in fortunate circumstances. Cleverley tees up Kaboul for a blast from 30 yards and he hits Aaron Ramsey and beats Petr Cech at the near post. A goal for the ex-Tottenham defender stuns the Gunners.

Mesut Ozil scored a sublime header against Stoke and he is almost in again, but the flag is up as he escapes in behind. Another free-kick for Watford in the attacking third.....

Tom Cleverley with the chance to test the Arsenal back-line but his free-kick from a central position goes straight out of play. Huge waste, but a decent start from the visitors.

Underway at The Emirates. Watford won here in the FA Cup last season; can they repeat that tonight? Arsenal have won their last five on their own patch.

Players out at the rain falls from the London sky. Nineteen chances from both sides from the weekend, but what will that do for the result? Arsenal's second string thumped Southampton while Watford's reserves were dumped out by Millwall.

The weather is pretty grim around north London tonight, so it might be one of those evenings when it is difficult for goalkeepers and a slick playing surface plays host to a fast-paced game. Well, that's the hope anyway.

Arsene Wenger will tonight serve the second match of his four-game touchline ban for his actions during the win over Burnley, which included him pushing fourth official Anthony Taylor.

Many have questioned the length of the ban given the gravity of the offence, but Wenger has slammed those critics and says the four-game punishment fits the bill. What do you think?

Another plug for our transfer deadline day blog which will run, come hell or high water, until the window shuts at 11pm. Nathan Ake and Odion Ighalo dominating the news at the moment.

So what of Watford tonight? Walter Mazzarri's men look set to remain in the Premier League for another season, with the hope being that the additions of Niang and Zarate will help pull them away from any danger. Four more wins in their final 16 league games will probably be enough to secure safety, and they would love to start that run tonight at The Emirates Stadium. Both sides train across the road from one another, but they'll be at even closer quarters tonight.

Big night for Arsenal if they have any ambition of staying in the title race, but they could also take a giant stride towards ensuring they qualify for the Champions League. Liverpool host Chelsea at Anfield tonight meaning at least one side will drop points, allowing Arsenal to either close the gap to the leaders, or extend their advantage over those outside the top four.

Arsene Wenger makes 10 changes from the win over Southampton. Shkodran Mustafi is the only player to keep his place. Danny Welbeck and Theo Walcott are on the bench.

Watford make nine changes from the FA Cup giant-killing at the hands of Millwall. There is a debut for new signing M'Baye Niang, while the likes of Heurelho Gomes and Craig Cathcart also return.

Teams in from The Emirates....

The game at The Emirates isn't the only game taking the limelight away from the transfer window, with six other matches in the Premier League also competing for your attention. Liverpool take on Chelsea at Anfield, while Sunderland host Tottenham. We have live coverage of both games so you won't miss a kick tonight.

For those of you craving your transfer fix, then head this way to our blow-by-blow blog of all today's deals. Mousa Dembele and Mamadou Sakho at the forefront of proceedings so fat today.

Interview with Heurelho Gomes on Watford's new signings. What impact can they make at The Emirates Stadium?

We're around half an hour away from the teams being confirmed, but how do we expect both sides to line up?

Santi Cazorla and Per Mertesacker are the only players out for Arsenal, with Theo Walcott having recovered from a calf injury which has kept him out for six weeks. Granit Xhaka serves the second of his four-game ban for his red card against Burnley.

Watford could hand a debut to AC Milan loanee M'Baye Niang who has arrived this month but Odion Ighalo have moved to China. Jose Holebas and Mauro Zarate are both suspended.

You would be forgiven for thinking otherwise, but on the final day of trading in January there is actual real football, that thing they play between transfer windows, tonight in the form of seven matches in the Premier League. We have live coverage of every game, including Arsenal against Watford.

Arsene Wenger is not getting involved in the jostling for position on the final day of the transfer window and is content with his squad, and as well he might after Arsenal's second string swept aside Southampton in the FA Cup. His side can stay second tonight with a win, and will have a keen eye on events at Anfield where fourth place Liverpool host Chelsea.

Watford meanwhile have been involved in the final few days of trading in January and have signed M'Baye Niang on loan from AC Milan, while Odion Ighalo and Jerome Sinclair have both departed. The Hornets are eight points above the drop zone and though they are not expected to figure in the relegation shake-up, a win tonight would certainly ease any fears they could be dragged towards the bottom three.

All the teams news, updates and build-up ahead of the 7:45pm kick-off at The Emirates Stadium on the way.