The Gunners thumped Atletico 4-0 on Tuesday night in London.
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Simeone said, “It is a learning curve. We just need to keep improving. I thought we competed really well to begin with. From 60 minutes they were the better team and deserved to win.
"I would say they are the best team we have faced this season. They compete so well, they run and they run, and they have quality all over the pitch.
"We have to put this behind us now and we need to focus in training on the things that went right and we need to make improvements as well.”