Guide with current deals to include southern archipelago (7,7)
I believe the answer is:
channel islands
'archipelago' is the definition.
'guide with current deals to include southern' is the wordplay.
'guide' becomes 'channel' (channeling is a kind of guiding).
'with current' becomes 'i' (symbol for electric current. I am not sure about the 'with' bit.**).
'deals' becomes 'lands'.
'to include' is an insertion indicator.
'southern' becomes 's' (abbreviation).
'i'+'lands'='ilands'
'ilands' enclosing 's' is 'islands'.
'channel'+'islands'='CHANNEL ISLANDS'
(Other definitions for channel islands that I've seen before include "Jersey, Guernsey, etc" , "a few detached spots" .)