Problms with Garmin HR Strap

Folks, I'm having problems with my Garmin 'Premium' HR strap and I was wondering if anyone can help diagnose it based upon the following:

1. I've changed the battery
2. I've washed the soft strap.
3. When I turn on the unit the Garmin confirms that the HR unit is 'detected' (which lends me to believe that the unit is o.k.)
4. I wet the two anodes
5. I still get no signal. If I push the two anodes hard up against my chest I get a low reading of 69 or 72 bpm, never changing, but the screen goes blank again when I release the pressure.
6. I've even shaved my chest (not all of it mind).

I was wondering if it is the strap of the sensor/transmitter.

Any suggestions?.