Unfortunately with PowerGUI it's not possible to prevent users of your executable from viewing your script, even if you use the "Protect script source code with a password" option.
The executable that PowerGUI generates is a self extracting ZIP file so it's possible to use 7-zip or WinRAR to open this file and view the original PowerShell script.
If you set a password using the "Protect script source code with a password" option all this does is password protect the files inside the ZIP container. However when launching the generated executable you'll be prompted for said password which can then be used to access the original script.