I disagree with the ZWO answer, you should be able to guide with a reduced ED127 and a 120mm guide scope. I see two things, first, the star size of 5.9 is way too large. Minimally the size should be below 4, ideally the size should be below 3. You need to figure out why it's so large. Second, because of how regular and large they are, to me, those spikes look like a mechanical issue with the mount or guide scope. Maybe a drive train issue in the mount or a loose mounting of the guide scope. I suggest searching on Cloudy Nights or a mount specific forum for clues.
I guide a ED127/ASI533MC with a 240mm/ASI120mm mini, EQ6R-Pro set up and get consistent .35-.45 RMS guiding.
And check this for ideas: https://openphdguiding.org/Analyzing_PHD2_Guide_Logs.pdf
-chuck-