‘Generic Republican’ holds eight-point lead over Obama

For the second consecutive month of polling, voters said they would vote for the "Republican Party's candidate for president" over President Obama, with 47 percent saying they would support the GOP candidate over Obama, who received just 39 percent.

The Gallup survey, taken July 7-10, showed a three-percent jump for "Generic Republican" from when the group took the last poll in June.

The options were tied when Gallup first took the poll in April, and Obama led by three in May in the aftermath of the killing of Osama bin Laden.

According to the survey's analysis, independents are the key to Obama's slumping numbers. While those who identify as Republicans and Democrats continue to hunker down with support for their party, the GOP has an 11-point lead over the president with independent voters.

"President Obama's re-election prospects do not look very favorable at this point—if the election were held today, as measured by the generic presidential ballot," said Gallup Editor Jeffrey M. Jones. "However, that result does not necessarily mean he is likely to be denied a second term in November 2012. At this point in 1991, George H.W. Bush looked like a sure bet to win a second term, but he was defeated."

Although the nameless Republican leads Obama, the president continues to enjoy strong numbers when matched up against most of the candidates, a sign the GOP presidential field is far from being settled. An ABC News/Washington Post poll in June, however, put former Massachusetts Gov. Mitt Romney three points ahead of the president.