It's the league mainly. We need to start getting results. I'd take dropping into the EL if it meant we got back into the top 4 by the end of the season.
In fact, I think the EL would be a good experience for this current Liverpool team.
There is no better experience than being in the CL mate. Playing the likes of Real, Barca, Bayern, Dortmund, PSG, Juve etc, even if we lose, is better for the players than travelling to Zenit, Villareal, Feyenoord etc. We need to get used to playing at the very top level and get used to competing against the very best teams in Europe. It will push our standards higher and help us strive to be the best.
Forget the CL or EL though. We need to start winning in the league. We are already on the verge of collapse and we're extremely lucky that the likes of Spurs, City, UTD, Everton & Arsenal have been poor too or we could already be out of the running of the top 4. Our next 5-6 PL games are crucial and we need to win 4-5 of them to get ourselves back on track. The way we've been playing this season I'd be surprised if we can get that type of run together but having Sturridge back may give the rest of the players a lift and we might finally 'click'. That's what I hope will happen anyway.