We experimentally demonstrated magnetoresistance (MR) read of dipole coupled nanomagnets using magnetic tunnel junctions. The MR allowed the magnetic state of individual nanomagnets to be electrically measured. The sensitivity of the read scheme enabled a systematic study regarding the nanomagnet spacing and revealed a transition in behavior. Below a spacing of 15 nm the dipole field overcomes the individual shape anisotropy and redefines the individual element easy axis along the direction transmission line. The demonstration of MR electrical read marks a significant step forward for applications such as magnetic quantum cellular automata logic devices.