No, GBP is the currency abbreviation of Great Britain Pound which is the official currency of Great Britain and its territories. The EU consists of 27 member states but out of the 27 states, only 20 countries of the European Union called Eurozone have a common currency called Euro. So Euro is the official currency for Eurozone. Since Britain is not a part of the Eurozone, it has its own currency, British Pound or GBP.