Considering Ancelotti said today in his press conference that Davies would be starting and that he knew the Holgate could play in midfield, I'd imagine we will line up like this...

Ancelotti likes to defend in a 442 and with James effectively defending as part of a front 2 against Wolves, and the latter stages of Sheffield Wednesday, I could see us setting up like this without the ball

Now that Lucas Digne is back, we may see him in a more advanced role down the left hand side in possession (we see this a lot for his assists). This would allow James to operate centrally and roam between the lines whilst also tacking advantage of Iwobi's ability to track back