The home side swarmed all over Rangers in the first half last night's Bank of Scotland Premier League clash and, amid a catalogue of missed chances, the Republic of Ireland international went down in the penalty area under a challenge from Ibrox stopper Ugo Ehiogu.

Referee Stuart Dougal ignored claims for a spot-kick, a decision which looked to be wrong on television evidence.

Ehiogu's overhead kick five minutes into the second half gave the visitors all three points and cut Celtic's lead at the top of the SPL to 16 points.

However, McGeady, 20, said: "I thought that it was a definite penalty.

"I was going to have a shot at goal if I got past him so it was disappointing.

"I don't want to say too much about the referee but I don't think that he had his best game.

"But if we had just put one of those chances away it would have been a different story.

"They seemed to get a lift when they got their goal and we couldn't seem to get hold of the ball for long periods in the second half.

"After the game we tried to figure out what happened because it was in total contrast to our first-half performance.

"I think there were some tired legs after our game against AC Milan in midweek.

"If you play 120 minutes against AC Milan and play again four days later then you are always going to feel a little bit tired but you can't use that as an excuse.

"I suppose the good thing is that we still have a healthy lead at the top of the league."

The Ibrox side departed Celtic Park claiming the win suggested a sterner title challenge would ensue next season under Walter Smith who was left to pick up the pieces at the start of the year after Paul Le Guen returned to France.

However, McGeady was unsure if the Govan club will pose a bigger threat under Smith next season.

He said: "Maybe it will, I don't know. A lot of people said that about Paul Le Guen as well, so you never know.

"Statistics don't lie. I think we have been the better team this season by a good bit but obviously Rangers fans are going to be buzzing because they beat us and the Rangers players will also take heart from that.

"But we've still got a healthy lead and we want to wrap the title up as soon as possible."

Rangers' Ehiogu denied the penalty claims, saying: "There was a slight tangling of legs.

"He certainly didn't have the ball under control and he seemed to run into a group of legs one of which was mine.

"I thought it would have been extremely harsh if it had been given."

Ugo described the moment he scored the winning goal in the Old Firm derby as "surreal".

The former England defender arrived in Scotland from Middlesbrough in January to help manager Walter Smith steady a rocky Ibrox ship and his wonderfully executed overhead kick at Celtic Park yesterday handed the Bank of Scotland Premier League champions their first home defeat of the season.

The 34-year-old's goal was enough to give Rangers a morale-boosting win and reduce Celtic's lead at the top of the table to 16 points.

The veteran defender said: "It was incredible. To score in such a dramatic fashion to decide my first Old Firm game - I couldn't have written a better script.

"It was probably my best goal ever - I don't even attempt overhead kicks at training. "It's just one of those things. Sometimes if you get caught up in the atmosphere of a game you do things without thinking and that was one of them.

"I just wanted to connect right and I managed to do that.

"I thought the keeper had actually saved it because I saw him get a hand to it.

"But it wasn't until I heard the roar that I realised that it had crept in.

"It was one of those surreal moments."

Ehiogu believes the win will help the Ibrox side in their bid to rescue their UEFA Cup, last-16 tie against Osasuna.

The first leg at Ibrox last Thursday ended in a 1-1 draw but the former Middlesbrough defender is still confident Rangers can make it through to the quarter-finals.

He said: "It was important for us to put in a performance because there were a lot of players unhappy after the game against Osasuna.

"Players know when they have a bad game they don't have to be told.

"You want to put things right as soon as possible and that win gives us confidence for the second leg.

"They didn't show us anything to be worried about and if we can perform as well as we can and keep it tight then we have a chance.

"We are still slightly underdogs because we probably need to beat them but the tie is alive and hopefully we can produce something."