Former Portsmouth boss delighted to see the Gunners slip up at Loftus Road but insists his side must take advantage by beating Swansea at White Hart Lane on Sunday
Redknapp was in west London on Saturday to witness the end of the Gunners’ seven-match winning streak.
Despite losing, Arsenal remain in third place, three points ahead of Tottenham in fourth, and Redknapp revealed his excitement at seeing Mark Hughes' side snatch a win.
He was quoted as saying by The Sun: "I was very tempted to celebrate QPR's winning goal!
"That was a big result for them today and a setback for Arsenal. You'd have fancied them to win at Loftus Road but it wasn't to be.
"And obviously Chelsea won so it's going to be close between the three of us.”
Spurs are without a win in five Premier League matches and Redknapp is keen to get back to winning ways after seeing the Gunners slip up.
The White Hart Lane boss insists that confidence is still high among his squad as their results have not been matching their good performances.
Redknapp added to Absolute Radio: "We need to beat Swansea to make use of Arsenal's result.
"They are a good side and it will be a difficult game.
"We've been playing well enough but have had a couple of setbacks.
"We played well in the defeats against Manchester United and at Everton and I thought we played well when we drew against Chelsea last week.
"We've not been on a downer as far as the form goes but it just shows you how difficult it is to win games when you look at Arsenal's result."