What must you anticipate in this situation?

Your answer is correct because you need to anticipate both that the cyclist may pull out to the left and that there is oncoming traffic.

In German traffic rules, when you see a cyclist riding close to the curb without a designated bike lane, they might need to pull out to the left, especially if there are obstacles or parked cars, or if they want to make a turn. It's important to be prepared for this maneuver to avoid collisions.

At the same time, since there is oncoming traffic, you must consider the space available and not just focus on the cyclist. You have to keep a safe distance from the cyclist without endangering oncoming vehicles.

The third choice, that the cyclist will dismount to allow you to pass, is not something you can assume and is not required to be anticipated here according to the situation shown.

So, anticipating both the cyclist pulling out and the presence of oncoming traffic correctly follows German road safety rules in this scenario.