John saw two witnesses, two olive trees and two lampstands (Rev 11:3-4). The lampstands and the witnesses represent the church. It is Jesus witness in the world. The olive trees represent the Holy Spirit. The odd thing in this vision is that there are only two lampstands. Earlier John had seen seven lamp-stands Rev 1:20). Seven represents perfection or completion. The perfected, completed church is represented by seven lampstands. A church with only two lampstands is a truncated church that cannot provide a complete witness to Jesus.
The church is truncated because the Jewish people are missing. A church without the chosen people is incomplete. With part of the team missing, the church is ineffective. This truncated church is active for 1260 day, which is the Times of the Gentiles. John is explaining that the church will not reach its full potential during the first half of its history, because the Jews are missing. That has been the story for the last two thousand years.
The two olive trees represent a constrained Holy Spirit. A perfectly free Holy Spirit would be represented by seven olive trees. During the season represented by the 1260 days, the Holy Spirit will be constrained by lack of faith in the church, and be unable to operate to his full potential. When this season ends, the Holy Spirit will be able to speak and act effectively on earth.Times and Seasons, p.38.