A sensing circuit includes a sense amplifier circuit having a first and second nodes through which a magnetic memory element is sensed. A first current source is coupled to the first node a second current source is coupled to the second node. A reference magnetic memory element has a resistance associated therewith and is coupled to the first node, the reference magnetic memory element receives current from the first current source. At least one memory element, having a resistance associated therewith, is coupled to the second node and receives current from the second current source. Current from the first current source and current from the second current source are substantially the same. The logic state of the at least one memory element is sensed by a comparison of the resistance of the at least one memory element to the resistance of the reference magnetic memory element.