Edit: This isn't just limited to gifs, and happens for any images viewed full screen.
When previewing gifs in WPImageViewController, the image doesn't remain fixed to the centre of the view if you rotate the device:

This affects the new Giphy integration, as well as simply previewing gifs that are already present in your media library.
To reproduce
Either:
Or
Tested on iPhone X (device) and iPhone 8 (simulator), iOS 11.4 and iOS 12, WPiOS 10.8
This seems to happen when previewing any image in the app (not just Gifs). See Video of previewing an image from an article in the Reader. (tested on latest develop 11/20/19 on emulator iPhone X: iOS 12.2, and App Store 13.6 on iPhone XR, iOS 12.4.1.

I think this is also related: https://github.com/wordpress-mobile/WordPress-iOS/issues/13757
Most helpful comment
This seems to happen when previewing any image in the app (not just Gifs). See Video of previewing an image from an article in the Reader. (tested on latest develop 11/20/19 on emulator iPhone X: iOS 12.2, and App Store 13.6 on iPhone XR, iOS 12.4.1.