I like the upper body, you've got a lot of shape and solidity into a few pixels.
I take it your character is meant to be walking towards the camera. In that case you'll need to add something that suggests movement in 3D space to the legs:
- Bending at the knee, using shadow and angle to get the idea of movement across.
- Lifting the feet from the ground.
You'll want to make the arms bend as the character walks.
The arms may be just a touch short. Dangle your arms and see how far down your thigh they go.
I may try an edit if I get time. In the meantime, a quick Google search for "walk cycle animation towards camera" should give you a few examples to learn from.