Henkjan1998 here is a really good power supply calculator you can use to get a basic gauge of how many watts power supply you need: http://www.extreme.outervision.com/psucalculatorlite.jsp
Here is a overclocked 3960x with a 7870 :http://www.anandtech.com/show/5767/capsule-review-sapphires-radeon-hd-7870-overclock-edition/4
As you can see it pulls 331watts from the wall under full tilt, the TX550 will do the job fine.