I don't see any welsh traits in it at all, welshies tend to throw thier very distinctive characteristics even into the partbreds. Even with as little as 12.5% welsh blood you can see a lot of the characteristics a mile off.
It looks a bit Shetland, I have a Shetland cross NF and some people mistake it for a welsh just by size and rough shape, but his head and frame are much too course.
I don't see welsh in the body shape either. The only thing you could concievebly call welsh is the height but that could come from any other small pony breed.
I could totaly get onboard with a shetland x