The Reds slumped to a surprise 2-0 loss to Red Star Belgrade in Serbia on Tuesday night in what was another disappointing away performance from Jurgen Klopp’s side.
Liverpool FC suffered a 1-0 defeat by Napoli in their second fixture of the group-stage campaign after Lorenzo Insigne netted a last-gasp winner in Naples last month.
The Merseyside outfit have scored seven times at Anfield in victories over Paris Saint-Germain and Red Star to leave them at the top of the group.
However, Liverpool FC are ahead of Napoli on goal difference only, while PSG are a point adrift of the leading pack with two games to play.
Klopp’s men will make the trip to the French capital in their next Champions League fixture on Wednesday 28 November.
Liverpool FC will be hoping to avoid a defeat before concluding the group stage with a home clash against Napoli next month.
However, former Reds star McManaman, who won the Champions League twice during his spell with Real Madrid, is fearful that Liverpool FC could suffer another heavy loss at PSG later this month.
“They [Liverpool FC] are struggling away from home and PSG are playing really well at home,” McManaman told BT Sport on Tuesday night. “So that’s a game that anything could happen if PSG turn up.
“We know Napoli are going to play Red Star at home next, you’d expect them to win that. You don’t want to go into the last game needing to beat Napoli or Napoli needing a draw or anything like that.
“We know how good the Italians are defensively. Losing to Napoli in the way they did and then [losing at Red Star], not even getting a point just to set themselves a little further forward… they’ve really put themselves in a bad position in the group.”
Liverpool FC are unbeaten in the Premier League following a return of eight victories and three stalemates to leave Klopp’s men two points adrift of leaders Manchester City.
The Reds haven’t hit top gear in the 2018-19 season despite Liverpool FC making clear improvements to their defence after conceding five times in their opening 11 games.
Liverpool FC will welcome promoted side Fulham at Anfield in Sunday’s lunchtime game with the chance to hoist themselves above Chelsea FC and Manchester City before their respective games against Everton and Manchester United.
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