a horse, especially a high-spirited one.

before 900; Middle English stēde, Old English stēda stallion; akin to stōd stud2; compare German Stute

steedlike, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
steed (stiːd)
archaic, literary or a horse, esp one that is spirited or swift
[Old English stēda stallion; related to German Stute female horse; see stud²]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

O.E. steda "stallion, stud horse," from P.Gmc. *stodjon (cf. O.N. stoð), from the root of O.E. stod (see stud (2)). In M.E., "a great horse" (as distinguished from a palfrey), "a spirited war horse." Obsolete from 16c. except in poetic, rhetorical, or jocular language.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
It's not the fastest steed in the stable but it utilizes an intuitive technology.
There sits the wise king himself upon his royal steed.
He often checks his cows on horseback, but that day his steed was a
  mud-splattered all-terrain vehicle.
But it's no use locking the door after the steed is stolen.
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