A two-axis magnetic field sensor includes a substrate, a first sensor having at least one magnetoresistive element formed of GMR material on the substrate has a free layer having an easy axis of effective anisotropy field in a first direction. The first sensor is sensitive to magnetic field components perpendicular to the first direction. A current is caused to flow through the first sensor and variations in the resistivity of the first sensor due to the first magnetic field components are sensed. A second sensor having at least one magnetoresistive element formed of GMR material on the substrate has a free layer having an easy axis of effective anisotropy field in a direction substantially perpendicular to the first direction. The second sensor is sensitive to second magnetic field components perpendicular to its easy axis of effective anisotropy. A current is caused to flow through the second sensor and variations in the resistivity of the second sensor due to second magnetic field components are sensed.