This is exercise 4.38. There is a hint to use Euclid's algorithm that you forgot to reproduce. There is also an answer (p. 503) that reads
$a^n-b^n =(a^m-b^m)(a^{n-m}b^0+a^{n-2m}b^m+\cdots+a^{n\bmod m}b^{n-m-n\bmod m})+b^{m\lfloor n/m\rfloor}(a^{n\bmod m}-b^{n\bmod m})$
What this means is that the first step of Euclid's algorithm reduces $\gcd(a^n-b^n,a^m-b^m)$ to $\gcd(a^m-b^m,b^{m\lfloor n/m\rfloor}(a^{n\bmod m}-b^{n\bmod m}))$. But $b^{m\lfloor n/m\rfloor}$ is relatively prime to $a^n-b^n$ since it divides the second term and is relatively prime to the first term; therefore it will be relatively prime to the $\gcd$ that is being computed, and we might as well remove that factor from the second argument of the $\gcd$. All in all this gives
$$
\gcd(a^n-b^n,a^m-b^m)
=\gcd(a^m-b^m,a^{n\bmod m}-b^{n\bmod m}).
$$
Now iterating as in the Euclidean algorithm eventually gives
$$
\gcd(a^m-b^m,a^n-b^n) = a^{\gcd(m,n)} - b^{\gcd(m,n)}.
$$
Can I take any decision of gcd(a^n-b^n,a^m-b^m) from this equations ?
– Way to infinity Dec 19 '12 at 16:09