Red Gazpacho

4     slices country-style bread, about 1" thick, crusts removed
2      pounds ripe tomatoes, seeded and coarsely chopped
1      cucumbers, peeled, seeded, and chopped
1     green bell pepper, seeded and chopped
1     small sweet onion, coarsely chopped
1      clove garlic, peeled and chopped
3      tablespoons sherry vinegar
1/4   cup extra-virgin olive oil, plus more for serving
        Kosher salt and freshly ground black pepper
        Tomato juice or water, as needed
        Finely diced cucumber, onion and bell pepper, optional, for      garnish
 
Soak bread for 15 minutes in a small bowl in water to cover. Squeeze out the excess moisture with your hands and transfer bread to a large bowl. Add tomato, cucumber, pepper, onion, garlic, vinegar and olive oil. Season well with salt and let the mixture sit for 30 minutes to allow flavors to blend.
 
Working in batches, puree the mixture and 1 cup water in a food processor until very smooth, adding tomato juice or water to achieve desired consistency. Transfer mixture to a clean bowl and season to taste with salt and pepper. Chill gazpacho in refrigerator for at least 2 hours. Serve in individual glasses, or in soup bowls with a good drizzle of olive oil and desired garnishes.