Power steering pump is top front, water pump is mid cambelt behind the cover. If the "pink" stuff is oily as mentioned then it's most probably from the p/s pump and running down onto and around the aircon compressor. Otherwise it'll either be a leaky coolant hose spraying out under pressure or the water pump is leaking and dripping onto the cam belt and slinging it round. Since your suggestion more or less pinpoints it, i'd go for the steering pump. Check the hose and tightness of the bolts.
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