The most common and most likely answer to this crossword clue is the 5 plus 4 letter word KNIFE EDGE
I've seen this crossword clue in Financial Times
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More clues leading to the result KNIFE EDGE
Buddy explains!
The straight part
We know that "One can cut through/a tricky situation" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case one can cut through/a tricky situation = knife edge.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 KNIFE EDGE mean?
KNIFE EDGE noun- A piece of steel sharpened to an acute edge or angle, and resting on a smooth surface, serving as the axis of motion of a pendulum, scale beam, or other piece required to oscillate with the least possible friction.
- A precarious balance that could be upset by a very small force in either direction.