Cersei Lannister
Cersei Lannister's look in season 8.Twitter/Official Game of Thrones page

In the recently released episodes of Game of Thrones season 8, we witnessed the 20,000 men of the Golden Company, coming together to support Cersei Lannister. After Euron Greyjoy's Iron Fleet and her own Lannister army, the support of the Golden Company puts Cersei in the lead. There is a popular theory that suggests that the Golden Company is going to betray Cersei before her final battle against Daenerys Targaryen.

If you are thinking that the Golden Company is going to betray Cersei Lannister because of Euron Greyjoy, then you are not completely wrong. Yes, Euron Greyjoy might leave Cersei after learning the truth that the child she is carrying actually belongs to her twin brother, Jaime Lannister. But as well know that the Golden Company has remained loyal to the Lannisters and they were offered a good sum to fight for them in the forthcoming battle.

If you have read the books written by George RR Martin, you are aware of a character named Griff. The young boy claimed to be the son of Rhaegar Targaryen and Elia Martell, which makes him Jon Snow / Aegon Targaryen's stepbrother. As per a popular fan theory, Griff is being helped by Lord Varys and Illyrio Mopatis (the magister who once gave shelter to Daenerys and her brother Varys). The character is not introduced in the entire run of HBO's Game of Thrones and as per Vogue, it is unlikely that we get to see him in the remaining two episodes.

Pilou Asbæk as Euron Greyjoy
Pilou Asbæk as Euron GreyjoyYoutube

That being said, from the looks of "The Last of Starks" we learned that Lord Varys is ready to betray Daenerys Targaryen as he has realized that Jon Snow would serve as a better ruler than Dany. As per a popular belief, Lord Varys will make Illyrio Mopatis turn the Golden Company against Cersei Lannister and join their hands so that they will be able to conspire against Daenerys and put a true Westeros-born Targaryen on the Iron Throne.

By doing this, the Golden Company will stay against Daenerys Targaryen but at the same time, will stop supporting Cersei Lannister. If this happens, then it would be an extremely bold move by Lord Varys. More will be revealed when Game of Thrones season 8 episode 5 will air on Monday morning at 6:30 am on Hotstar.