Cryptic crossword clue
Moral guide, one surrounded by lip 7

The most common and most likely answer to this crossword clue is the 7 letter word LABARUM

L
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B
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Buddy explains!

The straight part
We know that "Moral guide" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case moral guide = labarum.
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 LABARUM mean?

LABARUM noun
  1. The Roman military standard adopted by Constantine I. The banner was known for its Christian chi-rho sign - ☧.

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