Magnetic properties and magnetoresistance were investigated for Co1-xFex/Cu and Ni80Fe20/Cu multilayers with different Co1-xFex, Ni80Fe20 and Cu thicknesses which were prepared on a MgO(110) substrate using ion beam sputtering with different Ar ion acceleration voltages (VB). The MR ratio for highly Co composed Co-Fe/Cu multilayers was substantiated to be significantly larger than that for Co/Cu multilayers. The GMR strongly depended on VB, suggesting the importance of interface randomness, which was investigated by 59Co NMR measurements for Co/Cu multilayers. The uniaxial anisotropy was induced in the multilayers by epitaxial growth on a MgO(110) substrate. The uniaxial anisotropy leads to a low saturation field and quite a small field change needed for GMR which is indispensable for magnetic sensors such as MR heads.