An elderly couple in heavy coats are looking at black and white photos displayed on a wall.
The old lovers showing black and white photographs of them in their youth.
Not all  elderly couples are lovers. Not all photos are of the people looking at them, nor are photos of them in their youth. Not all people looking at photos displayed are showing them.
An elderly couple looking at photos doesn't mean they are old lovers.
An elderly couple does not have to be old lovers.  Looking does not mean they are showing the photographs.  The photographs on the wall do not have to be of their youth.