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That is the sensor telling you your brake pads are worn out.
Ive seen a lot of the mid grade brake pads from autozone, advanced auto etc sequel from beginning. The top grade and low grade don't. It's something about the mid-grade front pads and corvettes don't get along. I have a set with less then 100 miles in the garage that I took off because they screamed.
Also brake dust will cause a rotor is squeal, Try washing your wheel with a good wheel cleaner and try to get behind the saw-blades.
Please excuse my ignorance but if it is brake related, why does it happen when the brakes are NOT being applied and disappears when the brakes ARE applied?
If the pads are good and you want to verify it is the pads, take them out and lightly sand them to break the glaze. If it is the pads, the squeal will stop or change. In that case you might want to replace the pads and/or rotors.
Another car I had did the same. Every so often I would sand the pads and it would be good for a while. Sometimes it's just the pad material and pressing on the brake makes the noise stop.
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