Grating (moiré) interferometry is one of the well-known methods for full-field in-plane displacement and strain measurement. There are many design solutions for grating interferometers, including systems with a microinterferometric waveguide head. This article proposes a modification to the conventional waveguide interferometer head, enabling the implementation of a polarization fringe phase shift for automatic fringe pattern analysis. The article presents both the theoretical consideration of the proposed solution and its experimental verification, along with the concept of the in-plane displacement/strain sensor using the described head.