Black 1 is considered the most forceful of the available pincers against the low approach. The reason is that if White plays tenuki, Black at a is obviously strong.
The normal idea for White is to come out, with the interesting play at a daring Black to cut (3-4 point low approach one-space high pincer knight's move), or at b (3-4 point low approach one-space high pincer one space jump?).
Next in popularity are the contact play c (3-4 point low approach one-space high pincer, contact underneath) and the counter-pincer d. Then come White e, tenuki, f and g. The play at h may have been invented by Karigane Junichi, and can transpose into a one-space low pincer variation when Black answers at c.