When placing or breaking blocks, shooting a bow, attacking with a sword, throwing ended pearls, the action takes place well above the cross hairs, meaning you have to look far below the block your trying to break or swing at the mobs feet to hit it. 

https://www.xbox.com/play/media/Y2GCHGCMPL

https://www.xbox.com/play/media/FQU3J2GGEQ