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The amber light is a warning that the rear ABS is not functioning but you still have base brakes.
Check the fluid level and condition. I have a 90 F150 with a leaking caliper and whenever the fluid gets low the light comes on. I use the light as a reminder to fill the master cylinder
1)Does your speedo jump up and down while driving?
2) Does you cruise control cut out unexpectedly or not work?
If either or both of these conditions exist, it might be the speed sensor on the front top of your differential. Could be a bad wire, connector or sensor. About the size of a walnut and I think it costs something like $12.
Could be other stuff too, but at least on my 94 F250, those were the symptoms.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.