Denmark missed out on automatic qualification for the World Cup through two late goals by Scotland in the dramatic qualifying match in Glasgow in November and are now forced to go via the play-offs if they are to qualify for their eighth FIFA World Cup in history.
While North Macedonia has a history of play-off upsets, notably defeating Italy in the World Cup qualifying play-offs in 2022, Denmark will head into the clash at Parken Stadium in Copenhagen as clear favourites, with Brian Riemer's side ranked 21st in the world, while North Macedonia sits at 66th.
But Pancev, who was the captain of the squad that faced the then European champions Denmark, with the likes of Peter Schmeichel, in the Euro 1996 qualifiers, says that going into a World Cup qualifying match of that importance could be a heavy burden on the Danes.
"Denmark are the favourites and with the favourite's role on their side, the pressure is on them, and it might be difficult for them to justify that role. We don't have anything to lose, and as was the case in Palermo (where they beat Italy in 2022), maybe we'll surprise them and achieve a positive result."
"The main thing is to believe in ourselves, but it won't be easy."
If the underdogs manage to surprise Denmark in Copenhagen, then an away final awaits them against the Czech Republic or Ireland, with a 2026 World Cup ticket on the line.
"If by chance, God willing, we win, I think that Ireland would be more favourable opponents for us, because I think the Czech Republic plays way more creative football," Pancev says.
"The Czechs know how to create chances and are more dangerous on the ball. The Irish are way more predictable with their long balls, jumps, and I think we can be much more competitive against them."
Denmark will face North Macedonia in the Parken Stadium on Thursday night at 20.45 CET. The winner of that match will go on to play either the Czech Republic or the Republic of Ireland on away turf on 31 March in the play-off final.