With the Modern Libraries in SharePoint Online, getting a direct link – with a readable path – is not as straight forward as it was with the Classic Libraries. While the option is not there right before you, it is still possible to obtain such a link. In fact, there are even two.

Through SharePoint Online

Navigate to the Modern Document Library, select your document and click in the Ribbon on “Copy link”.

In the dialog that opens, select “Specific people”. You do not need to fill the other options. Click on “Apply”.

A new dialog opens, with your direct url to the document.

Through OneDrive for Business

You first need to sync your library offline.

Navigate, with Windows Explorer, to the synced library, right click your document and select “Share”.

Again, select “Specific people”.

In the next screen, select “Copy link”.

A new dialog opens, with your direct url to the document.