We propose a nonmagnetic, pseudospin-based version of a spin valve, in which the pseudospin polarization in neighboring regions of a graphene bilayer is controlled by external gates. Numerical calculations demonstrate a large on-off ratio of such a device. This finding holds promise for the realization of pseudospintronics: a form of electronics based upon the manipulation of pseudospin analogous to the control of physical spin in spintronics applications.