Alexander-Arnold to be England squad's highest profile omission for Euro 2020
Southgate set to leave out Liverpool right-back as Ward-Prowse gets the nod in midfield.
Bookmakers think there will still be some big names missing out from the final 26, and indications suggest Liverpool's Trent Alexander-Arnold will be the most significant casualty.
Mason Greenwood is another regular unlikely to make it and his undoing could very well be the form of Manchester United team-mate Jesse Lingard. He has been outstanding during his loan spell with West Ham. Ole Gunnar Solskjaer prefers Lingard but seemingly Southgate sees it the other way.
The other attackers who look unlikely to make the cut are Arsenal's Bukayo Saka and Olie Watkins of Aston Villa. Their omission are due to an extra midfielder being selected in the shape of Southampton's James Ward-Prowse, who Southgate is a huge fan of.
Central defence is another contentious selection with Wolves' Connor Coady on course to beat uncapped duo Ben White and Ben Godfrey to a place at the finals, after all three fended off Tottenham's Eric Dier - who failed to make the initial cut.
Graeme Bailey's final 26-man England squad
Goalkeepers: Dean Henderson (Man Utd, 1/100), Sam Johnstone (West Brom, 1/25), Jordan Pickford (Everton, 1/200),
Defenders: John Stones (Man City, 1/100), Luke Shaw (Man Utd, 1/33), Harry Maguire (Man Utd, 1/12), Kyle Walker (Man City, 1/50), Tyrone Mings (Aston Villa, 1/25), Reece James (Chelsea, 1/4), Conor Coady (Wolves, 1/6), Ben Chilwell (Chelsea, 1/100), Kieran Trippier (Atletico Madrid, 1/5)
Midfielders: Mason Mount (Chelsea, 1/100), Declan Rice (West Ham, 1/200), Jordan Henderson (Liverpool, 1/16), Jude Bellingham (Borussia Dortmund, 1/10), Kalvin Phillips (Leeds, 1/8), Jesse Lingard (Man Utd, 1/16), James Ward-Prowse (Southampton, 1/8), Phil Foden (Man City, 1/50), Jack Grealish (Aston Villa, 1/20), Jadon Sancho (Borussia Dortmund, 1/20)
Forwards: Harry Kane (Tottenham, 1/200), Marcus Rashford (Man Utd, 1/100), Raheem Sterling (Man City, 1/100), Dominic Calvert-Lewin (Everton, 1/50).