A B735 CREW OVERSHOT FINAL AT IAH RESULTING IN A 'CLB RA' FROM TCASII.

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AS THE FO I WAS THE PF FOR THIS LEG TO IAH. WE WERE RECEIVING RADAR VECTORS FROM APCH CTL; AND FROM A R DOWNWIND LEG FOR RWY 26 WERE NEXT ASSIGNED A 180 DEG HDG FOR A R BASE. ALSO; THE CTLR ISSUED TFC (AN EMB120) WHICH WE WOULD FOLLOW TO RWY 26. THE CAPT RPTED THE TFC IN SIGHT. I DID NOT SEE THE TFC TO FOLLOW. BY THE TIME I SAW THE EMB120 AND STARTED MY TURN TOWARDS THE FINAL APCH OUR TURN RADIUS TOOK US THROUGH THE FINAL APCH COURSE OF RWY 26 AND CONSEQUENTLY TOWARDS THE FINAL OF RWY 27 WHERE THERE WAS AN ATR42 ON FINAL APCH. WE RECEIVED A TA FOLLOWED BY AN RA WITH A COMMAND TO CLB. WE CLBED FROM 4000 FT MSL TO 4700 FT MSL AT WHICH TIME THE ALERT CEASED AND WE CONTINUED FOR A LNDG ON RWY 26. IT IS MY PERSONAL PREFERENCE TO BE EXTREMELY CONSERVATIVE WHEN RPTING 'TFC IN SIGHT' IN ANY TERMINAL AREA. DURING THIS INCIDENT THE SUN WAS LOW ON THE HORIZON ON A VERY CLR DAY WHICH MADE IT EXTRA DIFFICULT TO SEE TFC AHEAD OF US. IF WE WOULD HAVE JUST LET THE APCH CTLR DO HIS JOB THIS MOST LIKELY WOULD HAVE BEEN AVOIDED. ALSO; I BELIEVE THAT THE PNF; WHO NORMALLY HANDLES RADIO COMS; SHOULD ALWAYS; ALWAYS; ALWAYS ASK; THE PF IF HE/SHE HAS AND ALSO WISHES TO RPT TFC IN SIGHT.