This is a well known photo of spectacularly dressed Queen Alexandra flanked by her daughter Victoria ("Toria") to left and sister Dagmar to right.
The waistline, sometimes with a blouson bodice, was around in 1908, with flaring skirts. Toria may wear a downturned waist. Dagmar's is hidden by her arms. Queen Alexandra's stomacher panel strongly hints of a vee waistline. Paul Poiret's 1908 designs eliminated conventional waistlines of the day and waistlines generally became indistinct in 1909.