Simulated K_p − v plots for SYSREM iterations 3–10 cross-correlating with the H₂O template including clouds. In each plot, the dotted white line denotes the expected location of the peak, and the dashed yellow line denotes the actual location of the peak. All simulated observations include tellurics. Top row: cross-correlation with a template with equilibrium temperature T_eq = 1200 K (‘hot’). Middle row: cross-correlation with a template with equilibrium temperature T_eq = 738 K (‘true’). Bottom row: cross-correlation with a template with equilibrium temperature T_eq = 300 K (‘cold’).