The Twyford-based trainer was fined £1,100 and his jockey JP McNamara banned for seven days over the running and riding of Tarboush in the opening Teme Maiden Hurdle.
Tarboush has also been suspended from running for 40 days.
The six-year-old gelding finished third after taking a keen hold in the early stages of the two-mile contest but the stewards judged McNamara to be in breach of Rule 158 and Powell of Rule 155 concerning the schooling of horses in public.
“I haven’t done anything about an appeal at the moment,” Powell said yesterday.
“I haven’t had time to have a look but I know myself that we haven’t gone out there to do anything wrong.
I need winners.
“I haven’t decided what we’ll do. I’ve never been in this situation so to be honest I’m just a bit stunned at the moment.
“The problem is if you go to an appeal what are your chances?
“It will probably end up costing you money.”
Powell has until close of business at the Jockey Club today to launch an appeal.
Explaining the way Tarboush was ridden Powell said: “He does take a good hold and that’s why we dropped him out yesterday to get him to settle because he had been running away.
“They say he finished well but he didn’t actually finish well, it was a couple of horses around him, who are moderate horses, were walking.
“I thought the horse ran a cracking race. We can go back and ride him any other way and the horse won’t get home.
“He’s proved that already. Mick Fitzgerald is one of the strongest jockeys around and he couldn’t hold him last time.
“So we had to try and change tactics and I thought JP did a lovely job on him.”