It's fine, the continue statement relates to the enclosing loop, and your code should be equivalent to (avoiding such jump statements):
while (something = get_something()) {
if (something == A || something == B)
do_something();
}
But if you expect break to exit the loop, as your comment suggest (it always tries again with another something, until it evaluates to false), you'll need a different structure.
For example:
do {
something = get_something();
} while (!(something == A || something == B));
do_something();