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On my reasonably flat commute I average around 16 mph on my road bike, but your average speed is dependent on many different factors. A general rule of thumb is that if you are switching from a mountain bike with knobbies to a road bike you will be between 15-20% faster at the same watts/effort.
ANSWER: Horses can travel upwards of thirty (and some, even forty) miles per hour. They cannot sustain this pace for long, though. A horse can gallop a couple of miles at full steam, but the same horse can canter (or lope) much farther. Trotting (either a fast trot or a jog trot) isn't a bad way to travel, but you don't get very far very fast. Faster trotting is tiring to the rider as well because you are posting (rising up and down out of the saddle on alternate beats). Horses can walk all day, with brief rest periods. The condition of the horse can make a difference in endurance. A conditioned horse can do much more than one who isn't.