Should you exercise extreme caution in this situation?

In the video you are approaching a junction in town; traffic lights above the roadway show a flashing amber signal, and next to them there is sign A-7 "give way". You must exercise particular caution. The answer is: yes.

The Regulation on road signs and signals states that a flashing amber signal shown by traffic lights warns of a danger or an obstruction to traffic and requires you to exercise particular caution; the Road Traffic Act defines this as caution that consists in increasing your attention and adapting your behaviour to the conditions and changing situations on the road, to a degree that allows you to react quickly enough. On top of that there is sign A-7, which requires you to give way to vehicles on the intersecting road - so the junction works according to the signs, not the traffic lights. Particular caution in practice: you slow down before the junction, look left, right and left again, take into account that drivers on the intersecting road can also see the flashing amber and may not be sure who has right of way, and you are ready to stop. You drive in only when you will not cut in front of anyone and there is space beyond the junction to leave it.

Legal basis: § 98 para. 6 and § 5 para. 5 of the Regulation on road signs and signals; Art. 2 point 22 of the Road Traffic Act (Prawo o ruchu drogowym)