How can I use break or continue within for loop in Twig template?

This can be nearly done by setting a new variable as a flag to break iterating:

{% set break = false %}
{% for post in posts if not break %}
    <h2>{{ post.heading }}</h2>
    {% if post.id == 10 %}
        {% set break = true %}
    {% endif %}
{% endfor %}

An uglier, but working example for continue:

{% set continue = false %}
{% for post in posts %}
    {% if post.id == 10 %}
        {% set continue = true %}
    {% endif %}
    {% if not continue %}
        <h2>{{ post.heading }}</h2>
    {% endif %}
    {% if continue %}
        {% set continue = false %}
    {% endif %}
{% endfor %}

But there is no performance profit, only similar behaviour to the built-in break and continue statements like in flat PHP.