Possibility of a WW1 with France and Austria on the same side?

What it says on the tin - I put it here with the stipulation the POD would probably have to be at some point after 1885 or so for anything closely resembling OTL to occur. The two had historically - most recently in the 1860s - had a gripe with Prussia/Germany. Karl seemed somewhat willing to acknowledge the gripes of France in 1916/17 (but couldn't reach a deal due to allies deference to their promises to Italy).

Could it be possible that some sort of Anglo-French-Austrian entente faces off against Germany/Russia or Germany/Ottomans/Italy or some other combination? Is it even possible that Austria, France, and Britain are on the same side? I would imagine a kind of 7YW situation - UK/Germany (and Ottomans, due to Russia/Austria) vs France/Austria/Russia - is somewhat plausible due to the diplomatic arrangements of flash points between the UK and France.
 
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