Nottingham Forest missed an opportunity to move to within three points of Liverpool after drawing 1-1 with the Premier League leaders on Tuesday night, but they are still very much in the title race, according to Shaun Wright-Phillips.
Nuno Espirito Santo's side shared the points following a pulsating, sometimes chaotic, match in which Chris Wood's eighth-minute opener had Forest fans dreaming of a famous win.
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Forest appeared to have the measure of Arne Slot's Reds, taking a 1-0 lead into the break, but Liverpool's second-half response was strong and Kostas Tsimikas set up fellow substitute Diogo Jota for an equaliser just 22 seconds after entering the fray.
"I would say that Liverpool are the favourites, but you've got to take into account they only have to draw a couple of games and that gap goes way smaller than it is," said former Manchester City and Chelsea star Wright-Phillips.
"They draw against Brentford, Forest win... I think it would be wrong for us to just say that they didn't beat Liverpool - bearing in mind they are four points off Liverpool - I still think they are well within a chance if they can keep it up."
However, Michael Owen believes that Arsenal, who could move four points off top spot if they beat Tottenham Hotspur at home on Wednesday night, are the only other team that can realistically mount a serious challenge to Liverpool.
"If Forest had won today, I would have thought 'Ooh, can they do it?' but I don't think they can. I think this is a two-horse race," said the former Liverpool and Manchester United striker.
"I think Liverpool [are] obviously the favourites, but Arsenal are the only team, in my eyes, that can potentially go and challenge them. They're experienced, they're talented, they might sign one or two players, if reports are correct, in the winter transfer window, but I still think that Liverpool are very strong favourites."
Nuno: They created so many chances
Forest's fast start at the City Ground was of little surprise - they have opened the scoring in 17 of their 21 Premier League matches this season, at least four more than any other side.
However Liverpool's positive response to going a goal behind would have been expected too, certainly by Slot, who has seen the Reds gain more points from losing positions than any other Premier League side this season, with 14.
"First half was very organised," said Forest head coach Nuno. "We did not allow too many situations for Liverpool. They had possession, but were not able to break us.
"We knew in the second half that they would react. The game went a bit up and down and we knew in that moment that they could be dangerous. They had control and with the speed and the talent they created so many chances.
"Overall I'm proud of the way we worked. The running and desire of the players was incredible."
Slot: We played some outstanding football
Nuno's opposite number Slot was a little less fulsome in his praise after Liverpool dropped points with a second successive match.
"We should be disappointed, although they [Forest] are having a great season," he said. "With how the game went, I think we can be disappointed. They are a counter-attacking team and I think we only conceded one counter-attack - and for us to come from behind shows the character and quality the team has.
"Our fans, our players and me, we want to win the league, but we want the fans to come and see us and like what they see. We played some outstanding football in the second half. We were a bit more patient. Maybe the intensity was a little bit higher, but maybe the other team is a little bit more tired too."
Tsimikas and Jota substitutions - lucky or inspired?
Both head coaches tweaked their line-ups during the course of Tuesday's match, but Slot's triple substitution just past the hour-mark changed the course of the game, with two of those - Tsimikas and Jota - combining for the equaliser.
"I just wanted to bring more attacking threat to the team and the fact we scored immediately was just a bonus," said Slot.
"If it had been open play then people could maybe say it was a tactical masterclass, but it was a set-piece, so I don't think I deserve any credit for that. It was a substitution where we brought an attacker on for a defender and the fact it immediately led to a goal you could say it was luck."
Former Crystal Palace and Republic of Ireland striker Clinton Morrison, who made 88 Premier League appearances in the top flight, was quick to praise Slot's tactical change.
"That is what happens when you are a top manager. You make big decisions," he told BBC Sport. "It is a brilliant ball from Tsimikas and a great header from Jota. Great response from Liverpool."
Owen, a Premier League champion with Man Utd, was equally impressed.
"I don't think I've ever seen that before," he said. "I've seen someone come on and score with their first touch within seconds, but for a double substitution - a cross to come from one and a header to come into the back of the net from the other - is quite incredible. What an impact. What a substitution!"