Just spread your loop apart a smidgen by nocking an arrow and then forcing the gap open with the nock. I doubt that will cure your problem, but it will widen the gap enough to eliminate pinch as a culprit.

Now about your lousy flight, did you have good flight before and now it went south?
What kind of rest are you using?
Has your string or cable moved (stretched, creeped, elongated- whatever the term is )?