MIAMI (CBSMiami) – South Florida is still expecting tropical downpours later Saturday afternoon even though Fred has downgraded to a tropical wave.

There is still plenty of tropical moisture associated with what is now remnants of Fred that will move through Florida throughout the weekend.

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The remnants of Fred are expected to move into the very warm Gulf waters and regain tropical depression status by Sunday morning.

More strengthening will occur, but the system will stay well away from South Florida and the West Coast of Florida as it tracks northward.

Fred will regenerate to a tropical storm by Sunday night and continue to head for the northern Gulf Coast.

Landfall is forecast to occur late Monday night or Tuesday morning somewhere between Mississippi and the Panhandle.

Downpours in South Florida this weekend may cause flooding, which is why a flood watch remains in effect through Sunday evening.

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The flood watch may be extended if a moisture tail from Fred sets up over the area on Monday and Tuesday.

Storms may be capable of producing damaging wind gusts, flooding rain, frequent lightning and even tornadoes.

Moving into mid-week, South Florida will once again have to be on alert for possible impacts from Tropical Storm Grace, which formed early Saturday morning.

Grace will race towards the Leeward Islands, arriving there Saturday night and moving over Puerto Rico and the Virgin Islands on Sunday, then over Hispaniola on Monday.

Grace will slow down in forward motion as the storm moves between the Bahamas and Cuba by Tuesday.

South Florida may have to prepare for possible impacts from Grace on Wednesday through the second half of the week.

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Stay tuned to the CBS4 Storm Team and on CBSMiami.com for the latest updates on the tropics.

Jennifer Correa