The Hoops continued their recent revival with a 1-1 draw at West Ham United this afternoon.
Record signing Loic Remy scored on his debut and Redknapp conceded that while he was pleased with his side's battling display, ideally he hopes to bring in at least two more players before January draws to a close.
He told BBC Sport: "The players have been excellent and we have been on a good little run. We just want to keep that going and keep improving. We have still got irons in the fire and we have still got a chance.
"But we do need make a couple of signings and let one or two lads who are in the squad go. We saw how important that was today, we couldn't have scored that goal a few weeks ago. If we had held on to win today, Loic Remy would have paid off a big chunk of his fee.
"There are one or two players we are talking to. Long-term we need a centre-half, but I am looking to improve other areas. We are still down there but we are in much better shape that we were six or seven weeks ago. There will be teams looking over their shoulder."
QPR are still bottom of the table but have closed to within four points of their nearest rivals Reading, Aston Villa and Wigan Athletic.