Assume that the actual forward rate on a 1 Year USD/GBP forward contract is: F1USD/GBP= 1.18. Today's USD/GBP spot rate is: X0USD/GBP= 1.24. The 1-Year interest rates for GBP is 6%; the USD 1-Year interest rate is 4%. Which of the following statements is correct?

S1: According to CIRP, the GBP is underpriced in the actual forward contract

S2: If you need to buy (long) GBP forward, you would choose the synthetic forward position