diff --git a/RELEASE-NOTES.txt b/RELEASE-NOTES.txt
index 59128dd84b..9ce660196c 100644
--- a/RELEASE-NOTES.txt
+++ b/RELEASE-NOTES.txt
@@ -1,6 +1,7 @@
 Unreleased
 ---
 * [*] Cancel failed or in progress uploads if the media block is removed [https://github.com/wordpress-mobile/gutenberg-mobile/pull/6841]
+* [internal] Remove circular dependencies within the components package [https://github.com/wordpress-mobile/gutenberg-mobile/pull/6874]
 
 1.118.0
 ---
diff --git a/gutenberg b/gutenberg
index 11897ee1e2..d538f429f0 160000
--- a/gutenberg
+++ b/gutenberg
@@ -1 +1 @@
-Subproject commit 11897ee1e2529156e3337da38909a303f5431a77
+Subproject commit d538f429f018aba34814b360c5adf37eb6013427