Look at the simple first. You may get lucky... Lets hope so for your sake. Check the directional control valve lever and make sure it is shifting fully into the reverse position. This is the little lever on the valve body where the shift linkage hooks up. Your machine will either have a cable that attaches or a rod depending on where your machine falls in the serial number break. Most "Bs" have the metal rod.
If it is cable shift, then I have seen these get to where they won't allow the lever to go all of the way into engagement. Mostly reverse.
I have also seen the rod style get a bend in the shift rod and it will go into forward but not reverse. Thus causing the low pressure reading.
This is if you are lucky!!!
However... I would bet more on a reverse piston seal or maybe a center manifold ring or tube seal being bad. It could even be the manifold or other hard parts that are worn and not sealing anymore.
Usually when you have pressure in one direction and not the other it will be a ring or a seal somewhere in that side that has the low pressure.
This unfortunately means you will have to pull your reverser and repair it. Sorry for that bit of news... Good luck! And keep us posted...

40 plus years working on JD 350s, 400Gs, 450s and other equipment both Ag and Construction.