Look backwards and forwards (3)

I believe the answer is:

eye

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'look' is the definition.
(eyeing is a kind of looking)

I don't understand how the rest of the clue works.

(Other definitions for eye that I've seen before include "Ogle" , "Orb" , "Optical organ" , "central spot" , "Small loop or hole" .)

I've seen this clue in The Globe and Mail.

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