Release (string) loop moved up

Please excuse this newbie.
The release loop on by bow seems to have moved up. In consequence, I have had to move my sights down as far as they go, but its in the limit.
Is there a way to fix this? or does it mean full restring?
See image with redline added for reference.

 

Do you have a bow shop close by? They can serve it in for you so it won't move.