GBPUSD: The pair capped its strength on Monday closing lower. On the downside, support lies at the 1.2350 level where a break will turn attention to the 1.2300 level. Further down, support  lies at the 1.2250 level. Below here will set the stage  for more weakness towards the 1.2200 level. Conversely, resistance stands at the 1.2450 levels with  a turn above here allowing more strength to build up towards the 1.2500 level. Further out, resistance  resides at the 1.2550 level followed by the 1.2600 level. On the whole, GBPUSD threatens further recovery higher but with caution