This means: if $V\models{\sf ZFC}$ in such a way that $2^{\aleph_0}=\aleph_2$, can $2^{\aleph_1}$ be anything it ought to be?
By the way, can $2^{\aleph_0}=\aleph_2$ be considered the 'simplest' case of $\lnot{\sf CH}$ in some sense?
This means: if $V\models{\sf ZFC}$ in such a way that $2^{\aleph_0}=\aleph_2$, can $2^{\aleph_1}$ be anything it ought to be?
By the way, can $2^{\aleph_0}=\aleph_2$ be considered the 'simplest' case of $\lnot{\sf CH}$ in some sense?
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The behaviour of the continuum function on regular cardinals can be anything "not obviously contradictory". More precisely:
The first restriction on $F$ is obvious, while the second one follows from König's lemma.
If $\neg CH$, then $2^{\aleph_0}>\aleph_1$ (because $2^{\aleph_0}\ge \aleph_1$ just follows from Cantor's Theorem), so $\aleph_2$ is the smallest possible value of the continuum under $\neg CH$. There are some axioms superseding ZFC which imply $2^{\aleph_0}=\aleph_2$. The Proper Forcing Axiom is an example of this.