The England captain, who is his country’s third-most capped player with 113 appearances, said he was “hurting very bad” after the back-to-back defeats that led to World Cup elimination.
Costa Rica v England
FIFA World Cup 2014
Group D
Estadio Mineirao, Belo Horizonte
5pm Tuesday 24 June
He said: “There is no truth that I am going to make an announcement [about retirement] in a week.
“I asked the manager for some time over the summer to consider my future but I certainly won't be rushing into any decision.
The 33-year-old continued: 'I'm still hurting very bad from what has gone on. So I need to get away and clear my head before I make that decision.”
Gerrard and the Three Lions squad must turn their attention to Tuesday’s meeting with Costa Rica in Belo Horizonte.
And even if a victory over the Central Americans would come in vain for England, Gerrard says the players owe the fans a chance to enjoy themselves.
"We need to stick together, we have to show that responsibility together," said the Liverpool player.
“We have to stand tall and be thick-skinned and move on. The supporters want a win in the last game and the players want that as well.”
He added: "For the group I'm surrounded by it means everything to be out there in an England shirt. It was very small margins in the two defeats, games that could have gone either way.
"Everyone's hurt, everyone's disappointed. Thanks to the supporters for their support at the World Cup and getting us there. We (the players) take full responsibility and take it on the shoulders."