Yes. Although personally I do not think using a GUF2 with a 241 is good value though, as you only get half the saving.

Take LHR-LAX travelling in First.
2 passengers, 1x 241 = 300,000 avios return.
2 passengers, 1x 241, 1x GUF2 = 200,000 avios return

Saving: 100,000 avios.

2 passengers = 600,000 avios return
2 passengers, 1x GUF2 = 400,000 avios return

Saving: 200,000 avios.

Used on a revenue booking:
2 passengers in First on sale = £6,000
2 passengers CW + GUF2 = £4,000

Saving: £2,000