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I know you said the noise is not there sitting still at idle. What if you rev the engine in neutral? Do you get the noise? Or turn the wheel from lock to lock while sitting still? If you get the noise with either of these then I'd suspect a belt or pulley or something on the engine rubbing/misaligned/broken.
If you have to be in motion to hear the noise then maybe the backing plate for a rotor is rubbing. Does that car have rear drum brakes? A spring could have snapped on the rear shoes causing it drag inside the drum. If it's something with the pad it could be the metal shim (if there is one) on the back of the pad has worked it way out and is rubbing somewhere.
I wouldn't suspect bad bearings unless you didn't notice any noise before or a it was subtle enough to miss. Maybe the CV joint boot is torn and all the grease is gone inside the joint. Haven't heard those make a high pitched squealing noise but it might.
If you can lift the front of car and put it on jack stands you can put it in gear and slowly release the brake or let out the clutch. If the noise is there when the front wheels start to turn you know it's somewhere on the front wheels or axles. Unless it's your transmission but I don't think it'd be that. If you can do this with no noise then it's either an engine component or on the rear wheels.
If you have the tools and the time you should be able to isolate the problem and at least see what is causing it. Once you have an idea of where to look take off the wheel and look around or watch your accessories and belt for wobble or slack. Since it's rubbing you should be able to see the spot it's rubbing once you can figure out where to look. Even if you can't fix it you'll at least know where the problem is and if it's going to cause more damage by driving it.
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