I live five minutes from Fakenham and go there often. The Charter for a Market was granted in the thirteenth century, and one still takes place every Thursday, but I can find no reference to a 'Carnival' except in quite recent times. The Carnival which incorporates a procession and a funfair was regenerated after a period of twenty years or so, but I can't find out when 'carnivals' originally started in Fakenham. The girl in this song was obviously part of a funfair run by travellers. It might help to date the song if one could discover at what period the 'carnivals' or 'fairs' took place. A market is an entirely different thing and involves selling from stalls. Fakenham is a bit of a conundrum as it was recently voted 'the most boring place in England', and subsequently 'one of the six most desirable places in England to live'! I have to say that 'carnivals' in Norfolk are not an ancient institution and probably go no further back than the twentieth century. For what my opinion is worth, I feel this song is 'modern' too.