But Gerrard remains philosophical about the defeat inflicted upon them by the Spanish Champions, even though he feels it was an opportunity he should have taken.
He said: "The ball seemed to take five or 10 minutes getting to me and I had to sidefoot it and the keeper saved it. But no excuses - I should have stuck it away.
"It's going to be a good game now against Basel. We always knew we'd have to go there and get a result.
"Valencia have been to the Champions League final twice in the last few years and have proved in both games that they're a little bit better than us. That's how far we've got to go.
"It was hard getting the ball off them and they forced us into making mistakes. That is how it is against the best around."