Independently of any electrical contact, running electronic devices such as smartphones, smart watches, RFID tags etc., is now attainable over small and large distances through Wireless Power Transfer technology. Although, designing systems maintaining appreciable power transfer efficiency still not always achievable. Using two parallel loops, the Theory of Characteristic Modes provides physical insight into the power transfer efficiency. Furthermore, to reach straightforward maximization of the modal power transfer efficiency, the focus of this paper is analyzing the impact of the separation distance and the overlapping between the two antennas on the characteristic modes and their contribution in the total efficiency of the power. The study considers different positions and frequencies of the two parallel antennas.