Down 32 pounds - but only maintaining now??

I am really proud of myself. After getting to an all time high of 260 pounds, I set some aggressive goals (even completed a 73 mile bike race 2 months ago); and I have managed to shed 32 pounds. I exercise daily (bike riding) and tend to burn between 600-800 calories during each ride. Additionally, I have been lowering my calorie intake as my weight comes off and I drink plenty of water. What I think is interesting is that I seem to be maintaining my weight as of lately. I am a 35 year old male, 6 foot. I am sticking to 1200 calories or less each day (even though I am burning 600+). I don't think it is safe for me to reduce my calories any further than I have, considering the amount of cycling I am doing. I have read that increasing calories on some days can jump start the metabolism; provided I AVERAGE out the week? For instance, one day I consume 1800 calories, but maybe the next day only 900, etc... Let me know any thoughts or recommendations! Thanks - and don't get me wrong - I am very happy about the amount of weight I have lost to date. My goal is to get under 200; but I want to stay healthy doing this and I want to lose the weight gradually. I just can't figure out why I have been stuck at this weight for a couple weeks now. Surely, I should have at least dropped a pound or two I would think.