Apple Watch and peloton bike

Recently my Apple Watch has stopped connecting properly to my peloton bike. The Bluetooth function works initially and peloton screen shows the watch is linking but then never loads correctly. The watch screen just goes to the fitness Apple fitness app screen and does not load properly either. I’m no longer giving the notification on the watch asking me to confirm the peloton connection.

when it used to work correctly, I would hold watch to peloton screen, it would connect and then I’d confirm it on the watch. This would then register it on the bike so I could see heart rate.

I have tried resetting the watch but it has had no effect