Rather than deleting a watchpoint you might prefer to "disable" it. This makes the watchpoint inoperative as if it had been deleted, but remembers the information on the watchpoint so that you can "enable" it again later.
To disable/enable an existing watchpoint
In the Debug Object manager dialog on the Watchpoints tab clear/check the watchpoint you want to disable/enable
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In the Debug Object manager dialog on the Watchpoints tab select the watchpoint you want to modify and click the Modify button. The Watchpoint dialog appears. In the Watchpoint dialog check/clear the Disable watchpoint checkbox.
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Double-click the oval in the selection margin next to the line containing the watchpoint you want to disable/enable. If the color of the oval was cyan, i.e. the watchpoint was enabled, it becomes gray, i.e. the watchpoint becomes disabled. And vice versa, if the oval was gray it becomes cyan after double-clicking.