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We introduce a CoFe/Tb multilayer film as a sensing layer of alternating giant magnetoresistance (GMR) spin-valve sensors for use in a high-field measurements. The CoFe/Tb sensing layer has lower in-plane anisotropy than a single CoFe sensing layer and allows the alternating GMR sensor to show a high sensitivity, ∼0.4 MR[%]/kOe, when the sensing layer structure is [CoFe(1.92 nm)/Tb(1.22 nm)] × 2. This sensitivity is about four times larger than previously reported values. In addition, it was found that the working range of the sensor could be easily tuned by varying the CoFe thickness in the reference layer. Therefore, this study is encouraging not only for GMR alternating spin-valve sensor applications, but also for the development of tunneling magnetoresistance based alternating sensor applications with considerably higher sensitivities.