Environment Agency (EA) chiefs issued the warning for both sides of the river but said flooding, if any, would most likely occur around Beales Corner.
The agency said residents and businesses on Severnside are likely to be protected with the area unlikely to be impacted, although people should still be cautious.
However for the Wribbenhall area, environment leaders are predicting some flooding is "possible" with homeowners set to be preparing themselves for it.
The flood warning issued for the location, which includes notorious flooding spot Beales Corner, said: "We expect flooding to affect the barriers at Beales Corner.
"(They) are now operational and have water against them at the lowest point. The Environment Agency will continue to carry out pre-agreed maintenance activities. The risk remains as the barrier system is a temporary structure which cannot be guaranteed to perform."
Last year the town saw extensive flooding for the third year in a row despite the efforts of the temporary flood barriers to control the water, with the EA describing it as a "danger to life" as emergency services descended on the scene.
Currently water levels are continuing to climb from the 4.27m recorded on Friday afternoon, lower than predicted levels. But it is expected to continue to rise over the weekend, with computer forecasts – which are subject to change, it has been warned – predicting it could hit its highest levels, around 4.99m, late on Saturday.
Meanwhile there is the hope the issue could be resolved in the future, with the EA putting forward official plans to Wyre Forest District Council for permanent flood barriers to tackle the long-standing issue.
It is expected the barriers – which have been long called for by residents and politicians in the area – could resemble those currently in use in Upton-upon-Severn, if it is backed.
A planning statement said the EA will start construction on the scheme during the summer or autumn this year, which will take between 12 to 18 months to complete but will be subject to weather conditions and river levels, if backed.