What is the right course of action?

In this scenario, you are facing a yield sign while navigating an intersection. According to German traffic rules, when you encounter a yield sign, you must give way to the traffic on the road you are about to enter.

If there is a cyclist approaching from your left, as in this situation, they have the right of way. Therefore, you must wait until it is safe to proceed, allowing the cyclist to pass. This ensures the safety of all road users and complies with the traffic regulations that prioritize vulnerable road users, like cyclists.

So, waiting before making your turn is the correct action, as it aligns with the rules regarding yielding and pedestrian/cyclist right of way.