The monodromy theorem gives equality of continuations that exist under its hypothesis. It does not assert that every holomorphic function admits analytic continuation everywhere, even within a simply connected domain.
For an explicit obstruction, take near and attempt to apply the theorem on . The path ends at , where no terminal germ of a holomorphic function exists. If a holomorphic representative near continued , then the identity theorem would extend to that neighbourhood. Substituting would give . Thus the pole prevents the existence hypothesis, although is a simply connected domain. The analytic continuation article explains why the same rational function does continue throughout .
Existence at an endpoint by some route is also weaker than existence along every path from the base point. Along the real segment from towards , a holomorphic square root of tends to , yet cannot continue holomorphically through : a local representative would satisfy by the identity theorem, and differentiating at would give with . A finite limiting value therefore does not remove a branch point. More severe obstructions appear at a natural boundary of a holomorphic function.

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