Arsenal 2 Liverpool 2: Theo Walcott and Olivier Giroud score as Gunners come from two goals down to claim draw

The number of chances in this match would have been enough to fill a small book, let alone a match report. In the end, it wasn't so much Arsenal's comeback from two goals down that was remarkable, but the fact that the sides only plundered four goals between them.

Luis Suarez and Jordan Henderson gave the visitors, still smarting from Sunday's surprise FA Cup exit to Oldham, a two-goal lead, but the second of those goals sparked a fightback from the home side, who hit back through Olivier Giroud and Theo Walcott.

In the end, it was Arsenal who finished the stronger, with Reds keeper Pepe Reina forced into making a string of saves late on, though Suarez forced a save from Wojciech Szczesny right at the death after Liverpool had seized on a stray pass from substitute Andre Santos.

Liverpool will feel particularly disappointed given that victory would have seen them go level with their hosts, as well as reduce the gap on fourth-placed Tottenham, who were held to a 1-1 draw at Norwich.

Both sides have shown themselves to be vulnerable at the back this season, so the end-to-end slugfest was hardly a surprise. Nonetheless it was quite a sight to behold as the two English giants went for each other from start to finish.

Liverpool took the lead on five minutes. Bacary Sagna's slip down the left flank allowed Reds left-back Glen Johnson to cross for the unmarked Daniel Sturridge. Szczesny did well to save the Englishman's goal-bound effort, but the ball fell to Suarez. The Uruguayan did well to get his shot away through a sea of players and the ball flicked off defender Per Mertesacker, wrong-footing Szczesny, who watched in agony as the ball went into the net.

Arsenal nearly hit back immediately. Walcott found space down the right side of the Liverpool area and stung the palms of Reina with a rasping drive.

The Gunners were pushing forward with intent, but Liverpool, with Suarez, emboldened by his 22nd goal of the season, and Sturridge, had pace with which to counter-attack.

The latter went close again with the game just 12 minutes old when he pulled away from Thomas Vermaelen to latch onto a delightful pass from Suarez. Running at goal from the right-side of the area, the Englishman drilled a half volley a couple of yards wide.

Arsenal were living dangerously, but continued to push a high line as they went in search of an equaliser. As would be the case on more than one occasion, they found goalkeeper Reina, back in the team for Brad Jones, in fine form.

After a couple of corners in quick succession, the ball fell to Walcott on the edge of the Liverpool area. The England international steadied himself before bending an Thierry Henry-esque effort. Reina dived acrobatically and tipped the ball away.

Liverpool skipper Steven Gerrard was the next to come to his side's rescue, cutting out Lukas Podolski's cross which, had it reached its intended target of Giroud, would have given the Frenchman a simple finish.

Yet a second goal for Liverpool looked just as likely. First Podolski cleared off the line from Daniel Agger's downward header. Seconds later the lively Suarez flashed a low, diagonal drive inches wide of Szczesny's goal.

Worse was to come for Arsenal when Kieran Gibbs pulled up with what looked like a hamstring injury. He was withdrawn eight minutes before the interval for Santos, who was given a torrid time by Brighton's forwards in Saturday's FA Cup tie.

Arsenal's main striker in Giroud had been quiet, but briefly announced himself when he rose highest to a Walcott cross and flashed a header into the hands of Reina.

Liverpool should have gone in 2-0 at the break. Stewart Downing, an improving performer in recent weeks, released Henderson down the left flank. Most of Arsenal's players were a long way from their own goal, having ventured forward for an attack. Szczesny rushed out to meet the former Sunderland man, but stopped at the edge of his area. Henderson went for the lob, but could only plant his effort on the roof the Arsenal net. It was a missed opportunity.

Neither side were able to shore up their defences after the interval. Sturridge scuffed an effort just wide, seconds after he had appealed for a penalty for handball against Vermaelen.

Arsenal were screaming for a spot kick themselves within a minute when Podolski ran at Andre Wisdom and appeared to be clipped by the Liverpool defender. Referee Kevin Friend never looked interested and, in truth, Podolski did himself no favours with a theatrical tumble.

The chances were coming thick and fast. Podolski picked out Walcott at the back cross with a delightful cross, but the England man headed over with all the finesse one would expect from a winger.

The next goal would surely change the game and it came to Liverpool in remarkable fashion. Sturridge drove into the Arsenal half in typically menacing fashion and found Liverpool's forward-most player Henderson.

The midfielder, who had been industrious to that point, seemed to be going nowhere but managed to wriggle his way free of three Arsenal defenders, with Santos and Mertesacker particularly befuddled. The ball rebounded off Santos and Aaron Ramsey, who was rushing back, before finding its way back to Henderson, who slotted home for a simple finish.

Henderson's persistence was admirable, but the way he bullied his way through almost an entire Arsenal defence on his own was nothing short of outrageous.

As the Englishman celebrated in front of the visiting support, the home fans hurled programmes and abuse towards the pitch.

Their ire would turn to glee remarkably quickly as Arsenal mustered a quick-fire response. Giroud rose highest to head home from Wilshere's free-kick to reduce the deficit. The Frenchman could have driven a bus through the gap left by Reds centre-backs Agger and Jamie Carragher, and he punched the air in delight as he claimed his claimed his fifth goal in a week.

Three minutes later and Arsenal were level. Santi Cazorla found Giroud in the Liverpool area with a cute pass and the striker laid the ball off to Walcott who simply rifled the ball through Reina for the equaliser.

Suddenly the home fans were in full voice again, imploring the team to go for the jugular. They responded in kind, with Walcott nearly giving his side the lead with a left-footed drive from the edge of the area that skimmed inches wide.

Liverpool manager Brendan Rodgers responded to the sudden crisis by removing Sturridge for defender-cum-midfielder Jose Enrique. Walcott and Giroud forced further saves from Reina and Suarez nearly gave Liverpool all three points deep into injury time after Santos inexplicably gave the ball away on the halfway line.

In the end though, a draw was fair, but leaves neither side really where they want to be in the pursuit of a top-four finish.