Drake sings here about his relationship issues with a girl. The first verse with its reference to Diana, Princess of Wales and the line "England breeds proper girls" implies she comes from across the Atlantic. Also, the song title, "Peak," is London slang essentially meaning a very bad or unfortunate situation, meaning that Drake's relationship with this female seems to have worked out badly for him. If you believe the tabloid reports, Drake has dated two English girls, rising stars Jorja Smith and Raye.
The song closes with three girls candidly talking about moving too fast in a relationship. The first voice belongs to British rapper Stefflon Don and her conversation is with her friends Vinessa Douglas and Rhea Kpaka.