Two permitted in charmed circle? (8)

I believe the answer is:

bracelet

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'charmed circle?' is the definition.
'bracelet' can be an answer for 'circle?' (thesaurus). I'm not sure about the 'charmed' bit.

'two permitted' is the wordplay.
'two' becomes 'brace' (brace is a kind of two).
'permitted' becomes 'let' (to let something happen is to permit it).
'brace'+'let'='BRACELET'

'in' is the link.

Can you help me to learn more?

(Other definitions for bracelet that I've seen before include "16 [ADORNMENT]" , "charm?" , "Ornament - handcuff (slang)" , "Ornamental wristband" , "Jewellery worn around the wrist" .)

I've seen this clue in The Times and The Sun.

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