sare ic wæs mith sorgum gidr{oe}fid;
hnag [ic hwethræ tham secgum til handa.]

4. mith strelum giwundad
alegdun hiæ hinæ limw{oe}rignæ;
gistoddum him æt his licæs heafdum,
bihealdun hiæ ther heafun[æs hlafard.]

The literal meaning of the lines is as follows:

1. God almighty stripped Himself
when He would mount upon the gallows (the cross),
courageous before all men; I (the cross) durst not bow down

2. I (the cross) reared up the royal King,
the Lord of heaven; I durst not bend down.
men reviled us two (the cross and Christ) both together.
I was moistened with the blood poured forth from His side.

3. Christ was upon the cross;
howbeit, thither came eagerly from afar
princes to (see) that One; I beheld all that.
sorely was I afflicted with sorrows;
I submitted however to the men's hands.

4. wounded with arrows,
they laid Him down, weary in His limbs.
they stood beside Him, at the head of His corpse.
they beheld there the Lord of heaven.