Expression, in general (there two and a half very significant exceptions), are not valid pointer targets. Evaluation of an expression (in general) yields a value, not an object.
(The exceptions relate to the case where the overall expression results in a reference to a function with a data pointer result - in that case the expression can be used on the right hand side of a pointer assignment statement, or as the actual argument in a procedure reference that correspond to a pointer dummy argument or [perhaps - and F2008 only] in any context where a variable might be required, such as the left hand side of an ordinary assignment statement. But your expressions do not result in such a function reference and I don't think the use cases are relevant to what you wnt to do. )
I think you want the value of b to change as the "underlying" value of a changes, as per the form of the initial expression. Beyond the valid pointer target issue, this requires behaviour contrary to one of the basic principles of the language (most languages really) - evaluation of an expression uses the value of its primaries at the time the expression is evaluation - subsequent changes in those primaries do not result in a change in the historically evaluated value.
Instead, consider writing a function that calculates b based on a.
program pointer
IMPLICIT NONE
real(8) :: a
do i=1,10
a=dble(i)*2.0d0
write(*,*) b(a)
end do
contains
function b(x)
real(kind(a)), intent(in) :: x
real(kind(a)) :: b
b = 2.0d0 * x
end function b
end program