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Liverpool have had the type of week that can define a campaign, and it didn't go well.

In the period of four days, the Reds twice lost at home to Arsenal -- first leaving the FA Cup at the first hurdle in a 3-1 defeat, then suffering a dramatic 6-3 loss to a young Arsenal side in the Carling Cup quarterfinals.

Barring an unbelievable repeat of their Champions League win two years ago -- they must beat reigning Cup holders Barcelona to move on-- Liverpool's hopes of silverware are over for another year -- but worse, injuries suffered this week will put a big dent in their bid to hold on to a top-four place in the English Premiership.

Both Mark Gonzalez and Luis Garcia were carried off on Tuesday night. Gonzalez will be out for at least three weeks with a injured shin, but Garcia's injury was far more serious and he will not play again this term.

That will deny him the opportunity to play against former team Barcelona next month.

Losing the versatile Spanish international is a big blow for Liverpool coach Rafael Benitez, who has asked his players to rebound with a big win away at Watford on Saturday.

"I hope the result will galvanize everyone at the club, we must concentrate on the Premiership and be firmly focused on what is ahead," he said. "We can analyse what has happened in these last two games and use that to our benefit in the future.

"The players now understand how important the Premiership is, and we will be ready to face Watford."

With confidence heavily dented and an away record that hardly boosts assurance -- Liverpool have won three and drawn two of 11 matches on the road -- the Reds face the very real prospect of an upset at Vicarage Road.

The bookmakers still heavily favour Liverpool at 1.50 bet odds compared to 4/1 quoted for the Hornets, but Watford played well in a 2-0 defeat at Anfield earlier in the season, and the relegation-battlers are likely to come at Liverpool -- a recipe for success against a team on edge.

That loss at Watford could even be contemplated shows how far Liverpool have fallen since preseason predictions that they would challenge for the title.

In the aftermath of Tuesday's loss, Benitez admitted the team were still miles behind their rivals in building a competitive team.

"We are also looking for young players, but Arsene Wenger has been working on this for 10 years, we have been doing it for just a couple," the Spanish manager said. "But we need to keep trying our best in the market and work quickly if you have the money.

"And if you have money, then you must work at bringing in the best young players. ... If you want top-class players you must spend money, not only at senior level but at youth level too."

Benitez has been busy trying to put that into practice this week, signing an 18-month loan deal for Argentinian defender Emiliano Insua, a six-month loan for young Italian goalkeeper Sebastian Padelli, as well as pursuing the signing of 20-year-old midfielder Sebastian Leto from Lanus in Argentina.

But they remain players for the future.

This year is already looking like another lost cause for Liverpool. You can wager on them at 50/1 to win the English Premier League (odds provided by VCBet bookmaker)