The Reds are looking to continue their progress under charismatic German coach Jurgen Klopp after Liverpool finished in fourth place in the Premier League table last term.
The Merseyside outfit are gearing up for their first-leg clash against German side Hoffenheim in the Champions League playoff next week with a place in the group-stage draw up for grabs.
However, Liverpool have only signed three players in the summer transfer window so far after being frustrated in pursuit of top targets RB Leipzig midfielder Naby Keita and Southampton defender Virgil van Dijk.
Indeed, Klopp signed AS Roma winger Mohamed Salah in a £39m deal last month, while Liverpool have also signed Chelsea teenager Dominic Solanke and Hull City defender Andy Robertson.
However, former Liverpool captain Souness doesn’t envisage Klopp’s team challenging for the title due to a lack of signings in the summer transfer window.
“I think fighting on all fronts, they’ll want to make an impression in Champions League and they’ll want to challenge for the title,” Souness told Irish radio station Newstalk.
“I don’t think they’re strong enough. It will be even more difficult with the squad they’ve got this time around.”
The Reds haven’t won the Premier League title but finished in second place in 2002, 2009 and 2014.
Klopp led Liverpool to an eighth-place finish in 2015-16 before the Reds secured fourth spot last term.
Liverpool appointed Klopp as Brendan Rodgers’ successor in October 2015.
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