When the valve body was installed the lever and valve may have been out of position. Check it with the engine off and see if the lever moves and returns with the internal spring pressure. If it won't move with the engine off it is most likely that you will have to remove the pan and valve body to fix it. It might be a good time to put in a TransGo shift Kit. You order it by the year of the transmission.
#47-2 for 67 - 69 and the #40-2 for the 70 - up

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Paul
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retired mechanic after 35 years
specialized in Holley carbs and Ford Automatic Transmissions