38 weeks and blood pressure is 127\91 is this bad?

Probably not: it depends on what your BP has been running before. unless it is a great increase it is not concerning unless you begin to spill protein in your urine and have increased reflexes.

Higher end: Your blood pressure is definitely creeping up. You need to see your OB regularly to be checked for other signs of pre-eclampsia.

The diastolic number: (the second one) is high and you should notify your obstetrician tomorrow if not today especially if you have any swelling of your ankles or other unusual symptoms