What does a (fasting) blood glucose level of 127 mean?

Family practice . You may be pre diabetic. A 2 hr after eating blood sugar level is a better test for diabetes. An even better test would be hga1c level. That will show how your bs has been over a 3 month period. Normal level is less than 6.9.
Diabetes just barely. A fasting glu of 126 or more is diabetes. Your fasting glu can vary somewhat day to day, so if your glu was 124 tomorrow, would this mean you don't have diabetes? Consider this a wake up call. A diet/weight loss/exercise program may be able to get your sugar down without medications. See your doctor. Cardiac risk (blood pressure, lipids) is also important to check out.