Rangers merited no more than a point, maintains Smith
Ally McCoist and Smith will be looking for a big improvement in Valencia
Rangers' draw with Inverness CT was no more than they merited, according to Walter Smith after the match at Ibrox ended his team's 100% league record.
"We were disappointing today. We didn't deserve any better than we got. There was a lot of slackness in our play," said the Rangers manager.
"We huffed and puffed throughout the match and only showed a reaction once we lost the goal - it's disappointing.
"The level and the pace of our football wasn't up to what it can be."
Terry Butcher took his Inverness team to Ibrox keen to defend an unbeaten league record that stretched back to last November, albeit last season they were in the Scottish First Division.
We'll have to pick up our game. I'm sure we will
Rangers manager Walter Smith looks ahead to Tuesday's match against Valencia
And, for the hosts, there was the target of matching the achievements of their predecessors 112 years ago by winning 10 league matches on the trot.
William Wilton's team of 1898/99 not only won their first 10 league games but all 18 of their league fixtures.
Maurice Edu struck in the first half to brighten the mood of the home support, but a goal by Eric Odhiambo nine minutes from time meant each side had to settle for a point.
"Caley had a couple of opportunities before they scored where they might have done better - there was a great save by Allan McGregor," said Smith.
And, looking ahead to his team's Champions League match against Valencia on Tuesday, Smith admitted Rangers will have to produce an improved performance.
"We'll have to pick up our game. I'm sure we will," said the Ibrox manager.
"But there's a lot of football getting played at the moment and that is going to affect all the teams. We just happen to be the team that has to play far more games than anybody."
Smith's squad will be stronger if Maurice Edu and Vladimir Weiss can make the trip to Spain. The pair were substituted at half-time, both struggling with injury.
Referring to Edu, Smith said: "It was a bad challenge. He got a kick on the back of the calf and it was stiffening at half-time, so we took him off.
"I don't think he would have been able to continue in the second half. We should have been able to cope with that and we didn't."
As for the Slovakian winger Weiss, Smith explained: "It's a heel injury, which he has had for a few weeks.
"He said it was painful during the warm-up. Similar to Maurice, we had to take him off."
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