Perhaps the title We Are Both will come from a line said within the episode. Like in The Thing You Love Most, Rumple told Regina that the heart she had to sacrifice had to come from “the thing you love most”.
Perhaps Emma would be having difficulty coming to terms with the fact that Charming and Snow are her friends and her parents and would be like “Are you my friends or are you my parents?” and they would reply with “We are both!”
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All magic comes with a price!
Keeper of Felix