From High Street looking west. You can also just see the new statue of the fine lady on the south west of the roundabout. The road to the south is South Bar Street and the one to the west (directly opposite) is called West Bar Street.
The words of the Banbury Cross nursery rhyme relate to Queen Elizabeth I of England (the fine lady) who travelled to Banbury to see a huge stone cross which had just been erected. The words 'With rings on her fingers' obviously relates to the fine jewellery which would be worn by a Queen. The words 'And bells on her toes' refer to the fashion of attaching bells to the end of the pointed toes of each shoe - this fashion actually originates from the Plantagenet era of English history but was associated with the nobility for some time! Banbury was situated at the top of a steep hill and in order to help carriages up the steep incline a white cock horse (a large stallion) was made available by the town's council to help with this task. When the Queen's carriage attempted to go up the hill a wheel broke and the Queen chose to mount the cock horse and ride to the Banbury cross. The people of the town had decorated the cock horse with ribbons and bells and provided minstrels to accompany her - "she shall have music wherever she goes". The massive stone cross at Banbury was unfortunately later destroyed by anti - Catholics who opposed the notion of pilgrimages.