Does Fable for Kinect give you the option to go back to a save point?
Fable: The Journey automatically saves your game after each fight, when you rest or when you arrive to a conversation. If the game did not continue from a saved point, you must have had some problem with the storage. Maybe you should check if you are saving in the cloud and try to change locally, or be shure that your profile is correctly identified, as your gamesaves will be bounded to your profiles.