The most common and most likely answer to this crossword clue is the 5 plus 4 letter word SHARP EYED
I've seen this crossword clue in The Daily Telegraph
S
H
A
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P
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Buddy explains!
The straight part
We know that "Having the vision to make pointed observations" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case having the vision to make pointed observations = sharp eyed.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SHARP EYED mean?
SHARP EYED adjective- Having acute vision; having good eyesight.
- Attentive, given to noticing things, aware.