The Italian's position is coming under intense scrutiny only five weeks after having a clause removed from his £6million-a-year deal that would have allowed either party to terminate after the tournament in South Africa.
Capello said he would seek a meeting with Club England chairman Sir David Richards in the wake of his side's crushing 4-1 defeat to Germany - the biggest ever defeat to Germany and the heaviest loss England have suffered at a World Cup.
"I want to speak with the chairman and then decide my future," said Capello. "I need to know whether the FA have confidence in me or not."
When asked if he would resign, he replied: "Absolutely not."
Senior sources within the Club England camp, who will determine whether the Italian stays or not, have indicated that their stance on Capello - that he is the right man to take the Three Lions forward - has not shifted as a result of a single, albeit controversial, result.
The men who will sit in judgment on Capello are Richards, new Club England managing director Adrian Bevington, FA director of football Sir Trevor Brooking and acting FA chief executive Alex Horne.
They must assess whether the raging injustice of the disallowed Frank Lampard goal - that would have pulled England level after they had fallen 2-0 behind - merely papered over the cracks of a disappointing campaign.
After claiming his side were capable of reaching the World Cup final, Capello has seen his men record just one win from four games and arguably reach their potential only once - against Slovenia in Port Elizabeth last Wednesday.
Fans trudged away from the stadium in Bloemfontein devastated by the humiliating nature of the loss. Some were fuming at match officials after television replays showed Lampard's "goal that never was" clearly crossed the line. But others conceded the team had been outclassed and outplayed by superior opposition.
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org