  We use an SU(2) mean-field theory approach with input from variational
wavefunctions of the t-J model to study the electronic spectra in the pseudogap
phase of cuprates. In our model, the high-temperature state of underdoped
cuprates is realized by classical fluctuations of the order parameter between
the d-wave superconductor and the staggered-flux state. Spectral functions of
the intermediate and the averaged states are computed and analyzed. Our model
predicts a photoemission spectrum with an asymmetric gap structure
interpolating between the superconducting gap centered at the Fermi energy and
the asymmetric staggered-flux gap. This asymmetry of the gap changes sign at
the point where the Fermi surface crosses the diagonal (\pi,0)-(0,\pi).
