Apple Watch stuck on update while pairing

I have the same problem as described by others. I have an iPhone 7plus running iOS 11.2.5 and am trying to pair with my series 1 Watch. The Watch app on the iPhone gets as far as showing "watchOS 3.1.3 Your software is up to date" but sticks there without continuing to pair. So iOS 11 did not help me.

Also I do not have the option"General" under the My Watch tab in the Watch app so I cannt try to delete old Watch OS versions as suggested by Jonathon.

I also tried the hard reset pressing the crown and power off buttons at the same time. This did not help.

Has anyone got an idea what I can try ?

Thanks