The author describes the process of a couple's psychoanalytic psychotherapy, conducted in co‐therapy, through the analysis of some dreams and their associations. The dream analysis will show the common and shared inter‐subjective dimension of the couple that emerged from the psychoanalytic psychotherapy setting. Central notions of this clinical work are those of inter‐phantasizing, common and shared dream space, and couple associative chain. But also the containing model of the psychic envelope can be considered as one of the bases of the theory of a couple's dream space. The author describes the process by which the partners of the couple, and more generally the ‘therapeutic new group’, were able to achieve the unveiling of a denial pact that allowed the couple to add to their family at the time of the birth of their first child with Down's syndrome; but also, and more fundamentally, what has allowed this young couple to cope with the trauma of this birth. The author finally shows how the group working‐through, within the setting of the couple's psychoanalytic psychotherapy, gave new meaning to sensations, feelings and affects of the couple.