What you describe sounds most like air in the power steering pump. Check the power steering fluid level and cleanliness. Fluid should be clear red. Air in the PS or fluid being dirty causes a LOT of whine. It probably gets worse when you are sitting still and turn the steering, doesn't it?
There is also the Ford PS pump whining, which happens with age of the pump and is historically normal. Fords have had the whine for a long time.
If it is the belt, it would be intermittent and high pitch. It could be an idler pulley, but that usually comes and goes with engine speed unless it is real bad. Remove the belt and check the play of the 2 idler pulleys. Play should be minimal / non-existent.
With the engine off, grab the fan blade and spin it. If it spins easily, or if it wiggles out of line (front to back) fan clutch may be bad.