If the junction is light controlled then traffic should be stopping at the red light anyway.
If it's a zebra crossing and you're pushing your bike then yes, they should stop and let you cross. If you're riding it then you are the traffic and should be stopping for pedestrians, not riding at 90 degrees to the road direction.
If it's not either, then it's not a crossing so I'm not sure there are any actual laws about giving way to anyone other than pedestrians.
This comment was a long time ago, but it is worth noting if there is shared space/cycle track on either side of the ped crossing a cyclist may cycle across the crossing. If there isn't, you may be liable if a car runs you over
If the junction is light controlled then traffic should be stopping at the red light anyway.
If it's a zebra crossing and you're pushing your bike then yes, they should stop and let you cross. If you're riding it then you are the traffic and should be stopping for pedestrians, not riding at 90 degrees to the road direction.
If it's not either, then it's not a crossing so I'm not sure there are any actual laws about giving way to anyone other than pedestrians.