Hello Kirshan
In general, these terms can be used interchangeably, but have slightly different meanings. A pseudowire is the feature used by Cisco devices to provide end-to-end point-to-point layer 2 services. A virtual circuit is a specific point-to-point circuit created using the pseudowire feature. Each such circuit is signified by a Virtual Circuit ID that shows up in the output of the show mpls l2 vc command.
So pseudowire is the feature, while virtual circuit is the specific point-to-point virtual link that is created in each case.
Even so, the terms are often used interchangeably and each time they are used, they should be taken within context to determine the actual meaning that is being expressed.
You may find this Cisco documentation that further describes the concepts of pseduowire.
I hope this has been helpful!
Laz