Finally, the leader of the Seven Deadly Sins is back and was able to fend off the incoming attack of Derrierie against Elizabeth. Meanwhile, it seems like Elizabeth is one of the Four Great Angels as she seem to have some bad blood with the Female Demon.
In the previous chapter, mankind's defense against the demons just got weaker after Denzel was killed by Derrierie. As she and Monspiet temporarily withdraw from the battle, they sensed a presence that was Elizabeth and Zaratras. As Elizabeth's party draw closer to Leones, they were stopped by the two demons. Fortunately, Meliodas just arrived in the nick of time to stop Derrierie from dealing a massive blow on Elizabeth. Stunned, the princess hugged her savior who is ready for some payback.
Fans over at Manga Sail believe that Derriere and Elizabeth have a long history. Since it has been confirmed that the latter is reincarnated from Liz, some suggest that they are both the reincarnation of one of the Four Great Angels Monspiet mentioned in the previous chapter. With how Liz incarcerated Derrierie's right arm with ark magic, it could only mean that she is not just someone imbued with Holy Magic, but she could also be someone with great stature from her past life.
Also, fans believe that Meliodas will be able to slay one of the Ten Commandments, which would force them to regroup. Some believe it will be Monspiet who will be the casualty for the Demons as Derriere seem to be an integral part of the story. Some fans even suggest that she may have affections for Meliodas back when the leader of the Seven Deadly Sins was still the head of their group.
As a quick refresher on the previous chapter, Here is the chapter courtesy of Manga Mint. Fraudrin had now seized the Kingdom of Leones with Gilthunder and the other Holy Knights trapped inside. Also, it was revealed that Hawk's mom can hold her own against the demons as she was able to slay every lesser demon that stood in their way. Here is a video recap of "Nanatsu no Taizai" chapter 188.